EU to triple new transport budget to €26 billion

Siim Kallas, European Commission Vice-President, has announced that they’re TRIPLING the transport budget between 2014 and 2020 to €26 billion to deliver nine key transport corridors that it believes will radically improve the current “patchwork” of roads, railways, flight paths and waterways.

Much of the infrastructure already exists, with this fund being spent on reducing the existing bottlenecks in the network by completing the ‘missing links’. They are hoping to complete the proposed ‘core network’ by 2030, for which it estimates a total required investment of €500 billion!

Siim Kallas commented “This new EU infrastructure policy will put in place a powerful European transport network across 28 member states to promote growth and competitiveness. It will connect east with west and replace today’s transport patchwork with a network that is genuinely European.”

For further details you can download the European Commission’s full report here: http://www.tentdays2013.eu/Doc/b1_2013_brochure_lowres.pdf