- £30bn will be invested over the next four years, says Mr Osborne. This includes £14bn on new rail maintenance projects
- The chancellor paves the way for rail ticket price increases by lifting the cap on regulated fares to RPI plus 3% for the three years from 2012. This, he says, will help pay for new rolling stock and improved passenger conditions
- 7.1% drop in funding to councils, less than oringinally expected which should be good news for some local transport schemes.
"London emerged as one of the winners of today's spending review but Boris Johnson warned it would still have to bear its share of the pain.
"The capital won funding for key capital projects, including Tube upgrades and Crossrail, but will have to tighten its belt elsewhere."