23 January 2012 12:31

Business

Government needs to show Humber Bridge plan is 'realistic'

A business leader has called on the Government to be “transparent” over its financial plan to tackle the Humber Bridge debt.

It comes amid claims the Humber Bridge board will be left with a shortfall of more than £6 million after Chancellor George Osborne pledged to halve the landmark’s crossing toll.

Now, Sam Pick of the Renewables Network – a group representing more than 200 companies across the Humber – has said Treasury officials need to give more details about the plan, to allow the local business community to scrutinise it.

Mr Pick, the network’s business development director, said: “What we are looking for is long-term sustainability, not short-term political fixes.

“It’s crucial the Government actively engages with the business community in an open and transparent manner to demonstrate that its plan is realistic.

“With government debts at record highs, it is sensible the community fully scrutinises and questions Treasury officials and the Bridge Board’s plans.”

Mr Osborne has agreed to reduce the bridge debt by £150 million after a year-long review into the tolls – meaning a single car crossing could be cut from £3 to £1.50.

But Hull businessman Malcolm Scott, who put together a bid to buy the bridge debt, has suggested the new toll regime could leave a £6 million shortfall in its first year, unless traffic using the crossing substantially increased.

It’s led to fears the tolls, in the long-term, would simply have to be increased once more.

Mr Pick said: “We need a proper, sensible business plan and not political rhetoric.”

The Renewables Network, which was one of the organisations that supported Mr Scott’s plan, is a Humber-based private sector group that helps companies enter the green energy industry.

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