The Highways Financing Bill has returned to the UK Parliament for its second reading, as work progresses on the Lower Thames Crossing.
The bill would establish a new model for financing major road projects through private investment, with the stated aim of avoiding the use of public finance. The Lower Thames Crossing is currently the only confirmed project expected to use the framework.
Lower Thames Crossing works underway
Construction activity has started north and south of the River Thames, while the project has ordered what its promoters describe as Europe’s largest tunnelling machine.
The crossing is planned to link Kent and Essex through twin tunnels beneath the Thames. The UK Government says it will improve connectivity for cars and freight, reduce congestion and support economic growth, while easing pressure on the Dartford Crossing.
The proposed financing model would not allow unregulated tolls. The Office of Rail and Road would set balanced and transparent toll caps under the bill.
Roads Minister Justin Madders said: “For too long, drivers have been stuck in traffic while vital road upgrades have been delayed.
“By bringing in private investment, hardworking taxpayers won’t be left footing the bill through higher taxes, while major schemes like the Lower Thames Crossing can finally move forward. That means less congestion, quicker journeys and a boost for jobs and growth across the country.”
Industry response
Matt Palmer, chief executive of Lower Thames Crossing, said the bill’s second reading was “another welcome sign of momentum” for the project.
“With construction underway and Europe’s largest tunnelling machine on order, we’re making real progress in building the Lower Thames Crossing,” he said. “This vital project will unlock economic growth and make everyday journeys easier for millions of people by tackling the chronic congestion at Dartford.”
Declan Pang, director of policy and public affairs at the Road Haulage Association, said reliable and resilient roads were essential to the haulage and coach sectors.
“We will be interested in how the proposals develop and how the new framework operates in practice,” he said. “Any new approach to financing major road projects must carefully consider the implications for freight operators, alongside the benefits of improved capacity and reduced congestion.”