Delivering the Lower Thames Crossing: Could private investment provide the answer?

A final decision is expected this autumn on the Lower Thames Crossing with news of discussions that bode well for October.

This week the Financial Times reported the Government is considering seeking private finance to fund the proposed £9bn road and tunnel project.

The Government has not denied the Treasury deliberations saying it is committed to ‘harnessing private investment and working in partnership with the private sector to deliver on its missions.’

The Lower Thames Crossing plan is part of a wider attempt by the new Labour government to draw private finance to road, energy and water projects and reduce reliance on the taxpayer.

Nick Fenton, CEO for Locate in Kent, said: “This is a welcome development as we await the final decision on the Lower Thames Crossing, a project that promises to be a game-changer for the county.

“In July, Locate in Kent called on the government to recognise the importance of Kent and Medway to its UK growth agenda, starting with a positive decision on the Lower Thames Crossing.

“It is encouraging that ministers are keeping an open mind and are considering all possible means to deliver a project that will be critical to keeping UK freight passing through the Channel Ports and supporting increased housing and future economic growth for the region.”

The 14-mile Lower Thames Crossing, connecting Kent and Essex, would be the first completely new crossing across the river Thames to the east of London in 60 years.  It will relieve pressure on the existing tolled crossing at Dartford, with a new link between the M25/A14 and the A2 at Shorne.

A final decision on the project will be subject to the government’s spending review to be published ahead of the Budget statement of the Chancellor of the Exchequer, Rachel Reeves. The date of the budget is set for Wednesday, 30 October.