There are two motorway bridges across the Severn, the original Severn Bridge built in the 1960's and the Second Severn Crossing built in the 1990s. Both bridges have been toll bridges but there has been controversy about the tolls since 1992 when ownership of the bridges was passed to a private company (partly French owned ! :jaw-dropp) and the tolls used to recoup the construction costs of the bridge.
I can remember when the toll was a couple of quid - now it's nearly £7.
Once the costs of construction have been paid for, and a reasonable return has been provided for the private owners, then the bridges will revert to public ownership and indications are that the tolls will be abolished. This is due to happen at the end of 2018 - although it has been postponed at least once.
For the first year I can remember however, the tolls will be cut this year.
I'm intrigued to see that VAT is being removed - I thought that was one of those things that the EU imposed and the UK was powerless to control. Now it could be that this is a variation of the "we pay the VAT" promotion offered by shops, i.e. a 1/6 price reduction - in which case that's more understandable.
Economically it's likely to be a shot in the arm as people and firms find it easier and cheaper to locate here. On the negative side, properties near where I live (I can see the Severn Bridge from my house) are likely to shoot up in value (they're maybe 2/3 of the price of a property the other side of the bridge) as people relocate from Bristol and environs. For example it's easier and quicker for us to get to Aztec West (an business development and office park on the North West side of Bristol where tens of thousands work) from here in Wales than it was when we lived in central Bristol.
I can remember when the toll was a couple of quid - now it's nearly £7.
Once the costs of construction have been paid for, and a reasonable return has been provided for the private owners, then the bridges will revert to public ownership and indications are that the tolls will be abolished. This is due to happen at the end of 2018 - although it has been postponed at least once.
For the first year I can remember however, the tolls will be cut this year.
Quote:
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olls on the Severn Bridges will be cut in January for the first time, as VAT is removed from the fees. Cars heading for Wales will be charged £5.60 instead of £6.70, with vans paying £11.20 - down from £13.40 - and coaches £16.70, currently £20. |
Economically it's likely to be a shot in the arm as people and firms find it easier and cheaper to locate here. On the negative side, properties near where I live (I can see the Severn Bridge from my house) are likely to shoot up in value (they're maybe 2/3 of the price of a property the other side of the bridge) as people relocate from Bristol and environs. For example it's easier and quicker for us to get to Aztec West (an business development and office park on the North West side of Bristol where tens of thousands work) from here in Wales than it was when we lived in central Bristol.
via International Skeptics Forum http://ift.tt/2x0JHLL
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