00:00Well, this is the first time that we have allocated all our bus funding in a fair, transparent
00:05and simple way that is based on need across the country. The previous government took
00:09bus funding and they turned it into a competition, pitting areas against each other and wasting
00:14money on bid writers and writing applications to then leave some areas with absolutely nothing.
00:20Our formula that will allocate the money is based on levels of deprivation, on bus mileage
00:24and on population. So it means areas like Essex, like Kent, like Devon and Blackburn
00:29will get more levels of funding than they have ever had before and that will directly
00:32translate into more services and more reliable buses. The previous government, when they
00:37cancelled HS2, made all kinds of promises but none of it was agreed with Treasury, none
00:41of it was funded through a budget or a spending review, so it was meaningless. This is brand
00:45new money that has been negotiated with the Treasury and allocated during the spending
00:48review and all that money is going into local areas, dedicated to bus services. Like I say,
00:54the previous government racked it up, they put conditions on it, we are making sure that
00:57it is out the door, areas know exactly what they are receiving and it can all go on delivering
01:03better bus services for local people.
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