Transport received the largest capital settlement after defence in the Comprehensive Spending Review announced on October 20. In his speech, Chancellor of the Exchequer George Osborne claimed that transport investment would total more than ￡30bn over the period from 2011-12 to 2014-15 covered by the CSR, more than has been spent on transport projects over the past four years.rnUnder the settlement, DfT will reduce overall spending by 15% in real terms. The reduction will be achieved through savings of 21% from the resource budget plus an 11% reduction in capital spending (p8). Additional funding will come from increasing the cap on regulated fares from the present RP1+1% to RPl+3%from 2012 (p4).
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