25% - 40% cuts coming to the transport budget?
http://www.mirror.co.uk/news/uk-news/george-osborne-sharpens-axe-40-6111425
"Schools, health, international development and defence are protected so
local government, Home Office, transport, environment, justice and the
courts, arts and sports will be hammered by 25% and 40% cuts in
November’s Spending Review."
http://www.express.co.uk/news/politics/592816/Budget-spending-cuts-George-Osborne-welfare-Whitehall
"Councils, police, prisons, the courts and the transport network are
expected to bear the brunt of the swingeing spending reductions."
Some broader thoughts from R. Peston:
http://www.bbc.co.uk/news/business-33609662
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