Funding Innovations for Borough Transport projects23rd July 2019 / Posted by Joshua West
Through the Central London Sub-Regional Transport Partnership (CLSRTP), CRP commissioned Lowick Group to carry out a study of innovations in transport funding for borough officers.
In light of the ongoing constrained budgets available to local transport authorities, as well as local government more widely, it is crucial to ensure that all potential areas of funding are examined and understood for their potential to fund both statutory and non-statutory services.
A number of opportunities for extending best practice and developing new approaches were identified, including:
- New private sector investment, and underutilised public funding pots for Electric Vehicle charging infrastructure
- Targeted workplace parking levies
- Benchmarking fees for car clubs and mobility services, to ensure effective, fair management of kerbside space and incentivise the switch to cleaner vehicles.
This research project was based on a workshop with boroughs, desk research, and a benchmarking exercise around certain key areas, to provide an assessment of existing and potential funding sources and models for London transport authorities, including services that link with other borough departments and external organisations.
The final report is now available to download from the CRP website.
For further information please contact CRP’s Tom Linton-Smith.