Transport Innovation Fund
The Transport Innovation Fund (TIF) was a transport funding mechanism in England, that has been replaced by the Urban Challenge Fund in March 2010. Its creation was announced by Her Majesty's Government in the July 2004 White Paper, ’The Future of Transport’. The fund had two strands for supporting different types of project: Congestion TIF where local authorities bid for funds for their own schemes; and Productivity TIF where the DfT would identify schemes of national importance.
TIF represented a new approach by the Department for Transport (DfT) to allocating some of its budget for England. The fund did not apply to Scotland, Wales or Northern Ireland but they would not lose out because the budget for the fund will come from England’s overall allocation, calculated by a mechanism known as the Barnett formula.
Read more about Transport Innovation Fund: Congestion TIF Schemes, Bidders, Size of The Fund, Other Transport Funding Mechanisms, Size of TIF Compared To Other Funding Mechanisms
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... was to be smaller in total than the Local Transport Settlement, it will be shared between fewer authorities, so for an individual authority it would ... In 2007/8, the Local Transport Settlement will be £1,254m shared by all the authorities in the country ... bid for TIF funding (£200 m a year) is roughly four times the size of its Local Transport Settlement (£50m a year) ...
... The Greater Manchester Transport Innovation Fund was a failed bid by the Greater Manchester Passenger Transport Authority (GMPTA) and Association of Greater Manchester Authorities (AGMA ... borrowed and paid back through a mixture of public transport revenues and weekday, peak-time only Greater Manchester congestion charge ... If approved, the funds would have been spent on modernising Greater Manchester's transport network, with large-scale extensions of the Manchester Metrolink system, as well as increased bus ...
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