Govt ‘actively discussing’ Tyne & Wear metro funding

The Department for Transport is “actively discussing the most appropriate method of funding” new rolling stock for the Tyne & Wear metro, a minister has confirmed.

Paul Maynard, parliamentary under-secretary of state for transport, told parliament that the department recognises the importance of replacing the fleet.

It is understood that a PF2 model is being considered to deliver the scheme, however Maynard refused to rule this approach in or out during questions in the Commons.

However, any use of a privately financed model is likely to face opposition, with local Labour MP Chi Onwurah asking Maynard: “Will the minister commit that the investment will be publicly funded, not coming from some financially engineered private finance initiative scheme, so that the public benefits of a decent transport system can be publicly controlled?”

Maynard side-stepped the issue, responding: “We continue to work closely with the Treasury to make sure that we get the right funding package to deliver these carriages.”