Nexus reveals stark future funding choices
The North East’s transport executive has warned that significant cuts to bus services or fares increases on the Tyne & Wear Metro network may be required to combat a reduction in funding in 2020/21 and 2021/22.
Between 2010-2020 Nexus is on course to have sustained a 22% (£15m) cut to its grant support paid by the five Tyne & Wear districts it serves.
It used reserves to run a budget deficit in 2018 but, according to Nexus director of finance Jon Fenwick, the need to reduce costs further will have a “fundamental impact on service delivery” by 2020.
We've read it in: Passenger Transport, January 11 2019, p4
