Cities benefitting from major transport projects should make a significant contribution to capital costs

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The cities that directly benefit from the major transport projects outlined in recommendation 17 should make a significant contribution to the capital costs. Government should expect a local contribution of at least 15 to 25 per cent towards the total cost of the investment – although there are scenarios where a higher contribution may be expected, particularly for less expensive investments. Government and the UK Infrastructure Bank should work with cities to investigate and facilitate financing mechanisms and funding sources that could include a combination of business rates retention, third party contributions, forms of land value capture, and new income streams, to support the delivery of local public transport infrastructure.

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