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Government 'could sell off road network'

24/05/2010

The coalition Government is said to be considering a proposal that would see the UK's road network sold into private ownership, The Telegraph reports.

According to the paper, Transport Secretary Philip Hammond and Business Secretary Vince Cable are thought to be considering a proposal by investment bank NM Rothschild, under which motorways and major trunk roads could be privatised.

In Sunday's Times, Liberal Democrat Vince Cable re-iterated that the Government is considering selling publicly-owned infrastructure, including a part privatisation of Royal Mail, as part of its efforts to address the deficit in public funds. He said that using assets more creatively "is something we have to look at across government".

The Rothschild plan projects that selling parts of the road network would raise £100 billion.

Meanwhile, the AA says that the majority of its members want to see the transport secretary reduce the cost of travel. However, it pointed out that the Conservative's manifesto pledge to introduce a 'fuel price stabiliser plan' appeared to have been dropped, just a week after Philip Hammond reaffirmed his commitment to it in his maiden speech.

The plan - which would seek to balance temporary fuel price rises with a corresponding drop in taxation - does not figure in the Government's transport programme, published last Thursday by the new administration. In a letter to Chancellor George Osborne, AA president Edmund King said that the loss of the plan would be "a major U-turn".

He added: "Proposing a fuel duty stabiliser was perhaps the most important thing in the manifesto for drivers."

However, a spokesperson for the chancellor told the Daily Mail that the idea was still under consideration, while the Department for Transport said that it was "a matter for the Budget", which is scheduled for 22 June.

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