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UK NEWS

The M6 Toll road for sale at nearly £2bn

Apr 13, 2016

According to a report by the BBC, the 27-mile motorway route between Cannock and Coleshill is up for sale at a cool £2bn. The M6 Toll, the first in the UK, was opened in 2003 by Midlands Expressway Ltd at a cost of £900m but has been blighted by under use from the start. Figures from 2014 show a loss of £28.6m, down from £32.5m the previous year. 

Recently the number of vehicles using the road has increased, possibly due to the improving state of the UK economy, with a reported 52,735 vehicles per week between October and December last year, compared with 45,890 in 2014. A consortium of 27 banks now effectively own the company and are selling their equity to recover around £1.9bn from the sale. 

Hauliers have criticised the high-cost of using the road with HGVs having to pay £11 even if they don’t use the entire 27-mile stretch.  Comparisons have been made with toll roads in France and Spain where trucks pay by the mile with prices slashed dramatically for journeys at night. 

The BBC report says that the National Alliance Against Tolls (NAAT) believes that the government should buy the motorway and remove the charge completely.

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