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Sources of Finance

  • Stephen Glaister
  • June Burnham
  • Handley Stevens
  • Tony Travers
Chapter
Part of the Public Policy and Politics book series (PPP)

Abstract

When Mrs Thatcher’s Conservative government came to power in 1979 the road haulage industry and private vehicles were paid for by the private sector, as was shipping and much of the civil aviation industry; but large parts of the transport sector — buses and trains, roads and railways, ports and airports — were still wholly or largely owned and operated by agents of central or local government. In the case of roads construction and maintenance, finance also came from central or local government, and central or local government made substantial financial contributions to subsidize users of public transport. The Conservative administrations sought to disengage government from the transport sector: to privatize, to deregulate and to put residual administrative control in the hands of new, single-purpose bodies such as the Highways Agency and the Office of Passenger Rail Franchising. There has been a parallel policy of shifting responsibility for funding from the public to the private sector. Chapter 3 discussed the new administrative arrangements. This chapter outlines the responsibilities for funding that remain with central and local governments, and the new sources of privatesector finance.

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References

  1. Eyre, N.J. et al. (1997) ‘Fuel and Location Effects on Damage Costs of Transport Emissions’, Journal of Transport Economics and Policy, January.Google Scholar
  2. Glaister, S. and Travers, T. (1994) Tolls and Shadow Tolls (London: Automobile Association).Google Scholar
  3. Small, K. and Kazimi, C. (1995) ‘On the costs of air pollution from motor vehicles’, Journal of Transport Economics and Policy, January.Google Scholar
  4. Sterner, T. et al. (1992) ‘Gasoline tax policy, carbon emissions and the global environment’, Journal of Transport Economics and Policy May.Google Scholar
  5. Treasury Committee (1996), Sixth Report [session 1995–96], The Private Finance Initiative, HC 146 (London: HMSO).Google Scholar

Copyright information

© Stephen Glaister, June Burnham, Handley Stevens and Tony Travers 1998

Authors and Affiliations

  • Stephen Glaister
  • June Burnham
  • Handley Stevens
  • Tony Travers

There are no affiliations available

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