On October 7, our report into the economic impacts of tolls on the Humber Bridge was launched at the House of Commons by the four councils in the Hull and Humber Ports City Region.
The study found that the tolls have a significant impact on the Hull and Humber Ports City Region economy, and that reducing or abolishing tolls would bring significant agglomeration benefits. It would improve the productivity of the region, lead to greater employment opportunities, better networking between businesses and increase local competition.
Applying methodology in line with Department for Transport guidance, eliminating Bridge tolls would increase output in the City-Region by £21.3 million in the first year, while reducing tolls to £1 per crossing would have a benefit of £10.5 million. This is in addition to the increase in household income many residents would experience by not paying the tolls.
This is the first time such a method has been used to assess the wider economic impacts of bridge tolls. The approach provides valuable insight into the economic development opportunities for the Hull and Humber Ports City Region.
Click here to see the full report.
Click here to see the BBC News article.
Click here to see a local news article.