Richard Wellings writes for City AM
This anti-roads strategy has been costly – and not just through exploding rail subsidies. The annual cost of traffic congestion is now estimated at £20bn. But the biggest losses come from the failure to build new infrastructure where it is needed. Longer travel times reduce labour mobility and raise the costs of trade. Poor road links translate directly into lower productivity and living standards.
The basic problem is that the road sector is outside the market economy, with the supply of new capacity almost totally divorced from demand. As a result, hundreds of congested towns across the UK are still waiting for a bypass, and several major cities lack good motorway connections.
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