A new transport authority is to be created in Greater Manchester to help deliver more than £1.5bn of transport improvements planned for the region.
The new authority will combine the Greater Manchester Integrated Transport Authority and Passenger Transport Executive to form Transport for Greater Manchester (TfGM).
TfGM will report to a new Greater Manchester Combined Authority and will be in charge of the delivery of public transport schemes in the city region, including the schemes included in the Greater Manchester Transport Fund.
This £1.5bn fund will deliver 15 projects, broken into three groups – accelerated projects with funding from the Department for Transport (DfT); priority public transport schemes; and priority road schemes.
The DfT package includes extensions of the Manchester Metrolink from Chorlton to East Didsbury and Droylsden to Ashton.
The public transport schemes include Metro extensions to Manchester Airport and Oldham and Rochdale town centres.
The fund is made up of £448M from regional funding allocations, a £165M DfT grant from and £147M from the authorities’ Local Transport Plan funding.
Up to £775M will be borrowed by TfGM, with this expected to be repaid in full by 2045 through the profits from the Metrolink extensions and
an annual ring-fenced levy on residents, currently set at £67.57 per person in Greater Manchester.
The new organisations will work alongside a new Local Enterprise Partnership for Greater Manchester. All will come into being in April.