Record high inflation could wipe out more than £11 million from plans to invest in public services in the West of England.
New analysis shows inflation, currently at 9.9 per cent, could impact on huge projects like reopening railways, upgrading bus services and building new cycle lanes. Rising construction costs and wages mean these projects cost the public more to deliver.
Rising prices means there is likely about £11.6 million less “headroom available” in the investment fund of the West of England combined authority (Weca). This cash will instead be spent on meeting the increasing costs of major public infrastructure projects in the region.
