Post by pug on Jan 8, 2009 14:46:06 GMT
THE region would benefit to the tune of £350-million if the Humber Bridge tolls were scrapped.
A report leaked to the Grimsby Telegraph shows the Government would lose out on £170-million over 25 years in tax revenue if the tolls were reduced or abolished – just under £8 for the 900,000 people living on either side of the Humber.
If nothing changes, the Government will earn £290-million from bridge debt repayments over the next 25 years.
If they scrap the tolls, the Government would get back about £220-million in extra tax revenue from economic growth. £100-million of this would be spent on maintaining the bridge, leaving them £170-million short of the status quo.
If they reduce the tolls to £1, they will get £120-million of tax revenue, but will not have to pay any maintenance costs. This is also £170-million short of the position if they do nothing.
Expert number-crunching by independent researchers shows if the tolls were axed, the Humber region would benefit to the tune of £350-million, and by £200-million if they were reduced to £1.
The Telegraph's source said: "The Government want to have a city region and the four councils have gone along with that despite some reluctance.
"But with the tolls in place we can't have a successful city region.
"It is make up your mind time for the Government."
Details of the report by Colin Buchanan and Partners will today be given to the leaders of North East Lincolnshire, North Lincolnshire, Hull City and East Riding Councils.
To scrap the toll completely would mean Government taking responsibility for maintaining the bridge, which would involve changes to legislation.
Alternatively, the Government could act more quickly, reducing the toll to £1 for cars and leaving maintenance costs to the Humber Bridge Board.
The Hull and Humber Chamber of Commerce is set to be heavily involved after paying for the latest research.
Telegraph editor Michelle Lalor said it was time for the Government to step up and help put the region in a strong position once the economic down turn is over.
More than 9,000 readers have signed a petition demanding action on the tolls and a public inquiry is set to be held into the issue this spring.
Shona McIsaac MP said: "The next step in the campaign is to agree a common position to take to the Secretary of State.
"All the MPs for the area, council leaders and business leaders need to be singing off the same hymn sheet.
"We have to be realistic in what we can persuade ministers to agree too."
Sign our petition at www.thisisgrimsby.co.uk/bridgetolls
A report leaked to the Grimsby Telegraph shows the Government would lose out on £170-million over 25 years in tax revenue if the tolls were reduced or abolished – just under £8 for the 900,000 people living on either side of the Humber.
If nothing changes, the Government will earn £290-million from bridge debt repayments over the next 25 years.
If they scrap the tolls, the Government would get back about £220-million in extra tax revenue from economic growth. £100-million of this would be spent on maintaining the bridge, leaving them £170-million short of the status quo.
If they reduce the tolls to £1, they will get £120-million of tax revenue, but will not have to pay any maintenance costs. This is also £170-million short of the position if they do nothing.
Expert number-crunching by independent researchers shows if the tolls were axed, the Humber region would benefit to the tune of £350-million, and by £200-million if they were reduced to £1.
The Telegraph's source said: "The Government want to have a city region and the four councils have gone along with that despite some reluctance.
"But with the tolls in place we can't have a successful city region.
"It is make up your mind time for the Government."
Details of the report by Colin Buchanan and Partners will today be given to the leaders of North East Lincolnshire, North Lincolnshire, Hull City and East Riding Councils.
To scrap the toll completely would mean Government taking responsibility for maintaining the bridge, which would involve changes to legislation.
Alternatively, the Government could act more quickly, reducing the toll to £1 for cars and leaving maintenance costs to the Humber Bridge Board.
The Hull and Humber Chamber of Commerce is set to be heavily involved after paying for the latest research.
Telegraph editor Michelle Lalor said it was time for the Government to step up and help put the region in a strong position once the economic down turn is over.
More than 9,000 readers have signed a petition demanding action on the tolls and a public inquiry is set to be held into the issue this spring.
Shona McIsaac MP said: "The next step in the campaign is to agree a common position to take to the Secretary of State.
"All the MPs for the area, council leaders and business leaders need to be singing off the same hymn sheet.
"We have to be realistic in what we can persuade ministers to agree too."
Sign our petition at www.thisisgrimsby.co.uk/bridgetolls
Source; Grimsby Telegraph.
Sorry if its in the wrong place, think it is of relevence to HUY though.