The percentage of the DfT’s expenditure that was on projects assessed to be ‘high’ or ‘very high’ value for money (a benefit:cost ratio between 2 and 4 and greater than 4 respectively) slumped from 95 per cent in 2016 to 71 per cent in 2017, according to the Department’s annual report and accounts. The accounts also show the DfT received £18.7bn of funding from the Treasury in 2017/18 and £6.1bn from other sources, principally train operating...
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