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Transport Policy LTT855 17 October 2022
TfWM offers emergency funding to rescue loss-making bus routes though fares frozen for three years
Transport for West Midland’s (TfWM) Transport Delivery Committee has agreed to continue to fund at least 78 of 114 bus service contracts that are regarded as socially necessary. The committee agreed to relax value for money criteria and provide an £800,000 rise in the 2023/24 annual subsidy – taking the total to £16.3m.
The committee’s decision came in response to the cost pressures bus operators are facing in the UK due to rising fuel costs and reduced passenger numbers following the Covid-19 pandemic.
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