It looks to me as if reported cut to the Department for Transport’s (DfT) budget merely reflects accounting changes that take into account increased business rate retention by Transport for London (TfL).
New Civil Engineer reported what appeared to be a discrepancy between the DfT’s Departmental Expenditure Limit (DEL), including HS2, as set out in the Spending Review against the same totals in the Autumn Budget.

Across the five financial years from 2024-25 to 2028-29, this amounted to £2.4bn, the magazine said.
Spending totals for all five years were set out as “plans”, rather than outturn, with totals only given three years ahead because, while the Spending Review set capital spending for 2029-30, it only set resource spending to 2028-29.
The discrepancy in the DfT’s total Budget over the next three years is only £1.5bn, with the Budget figures actually showing an increase of £600m in 2027-28, compared against the Spending Review.
The DfT has reportedly attributed the discrepancy to “accounting changes”, without explaining further.
However, a reply from roads minister Simon Lightwood to a written parliamentary question from fellow Labour MP and Transport Committee member Alex Mayer may explain these accounting changes.
Mayer asked what assessment and estimate ministers had made of the difference in the DfT’s capital DEL budget between the two documents across the five-year period.
While Lightwood replied in terms the government’s capital DEL as a whole from 2025-26 to 2029-30, a footnote in his answer noted that the figures he quoted were “adjusted for TfL Business Rates Retention (£1.2bn p.a. from 2026-27)”.
This change would see some of TfL’s capital spending being funded from retained business rates, rather than going through the DfT’s budget.









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