The long-term funding guideline (LTFG) for transport, announced as part of the outcome of the comprehensive spending review in October 2007, sets out indicative plans for total spending within the Department for Transport’s departmental expenditure limit of some £73 billion over the five years from 2009-10 to 2013-14. Of this total, some £19 billion is expected to be spent on railways (including DfT’s grant contributions towards the costs of Crossrail). £19 billion is expected to be spent on roads, along with a significant proportion of a further £4 billion identified as capital funding within ‘regional funding allocations’ (RFAs). The balance of the RFAs, plus the remaining £31 billion of the LTFG is planned to be spent on other transport services and infrastructure.
These figures do not include spending by Transport for London funded through its use of farebox revenues or Prudential Borrowing. The figures also exclude other local authority revenue funded through general grant (paid by CLG) and council tax, and any investment funded through Prudential Borrowing.
The DfT has made no comprehensive projections of levels of private investment in transport infrastructure.