National Productivity Investment Fund

Introduction

The Government provided a new capital grant to local authorities for the 2017/18 financial year to spend on local highway and transport networks, with a view to improving productivity and local economic growth. This is called the productivity investment fund and we were awarded £3.859m for 2017/18.

The Cabinet Member for Highways and Transport took a decision on 15 March 2017 to use the grant to provide additional spend on highway structural maintenance, additional spend on the major transport schemes programme, and spend on a public transport smart ticketing project. With the precise value of the allocation to each programme or project determined by the Director and Lead Commissioner for Economic and Community Infrastructure.

The Cabinet Member also agreed that additional spend for traffic signals replacement is a reserve programme which grant funding may be spent on if appropriate.

National Productivity Investment Fund

Indicative allocation of the fund to projects and programmes, from the productivity investment fund 2017/18:

Highway resurfacing programme £0.5m
Major schemes programme £3m
Public transport smart ticketing project £0.359m
Reserve Programme
Traffic signals replacement programme £0m

TOTAL £3.859m

M5 Junction 25 Walking and Cycling Improvement

The scheme is to provide a sustainable link connecting the Strategic Employment Site (Nexus25) with the built-up area of Taunton at M5 Junction 25. This link replaces the existing sub-standard walk/cycle facility at M5 J25.

The new link, in the form of a landmark bridge spanning over the motorway, signifies the gateway to Somerset. This raises the profile of Nexus25, attracts investment from high-profile tenants, unlocks growth, improves productivity and transport potential.

Somerset Traffic Signal Efficiency Package

The project is to upgrade 11 sites across the county, located on corridors linking growth locations to established areas of economic activity.

This project will bring traffic signalling, detection and communication equipment to a modern standard, provide an efficient and intelligent system, minimise travel delay and improve journey quality for all road users.