Tyne Tunnel tolls to rise in April

The Tyne Tunnel
The Tyne Tunnel
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Tyne Tunnel tolls will rise in April - three months later than originally planned.

Car drivers will see the amount they have to pay jump by 10p, to £1.70, while the toll for HGVs will rise by 20p, to £3.40.

A meeting of the North East Combined Authority tomorrow will hear the level of tolls is set by a formula which relies on the inflation rate, with prices set to rise annually and the cost for HGVs going up by twice that for cars.

The last rise was in January last year for HGVs and 12 months earlier for cars, but with increases limited to whole 10p figures, the inflation rate was so low this January that the planned rise was put back.

The proposed increase will now take effect from Sunday, April 3.

Tomorrow's meeting will hear funding for the Tunnels is ring-fenced within the authority's budget, so they are funded entirely from tolls and existing reserves.

The forecast for 2015/16 shows an increase in toll income, as traffic has been higher than predicted T but the rise in income will largley be eaten up by increased payments to tunnel operator TT2 Ltd., as the amount it is paid is based on the traffic figures.

However, the rise in toll income still means the shortfall in funding is likely to be 'significantly improved' which means the amount that will have to be used from the tunnel's reserves to make up the difference will be reduced to an estimated at £289,000.