Over the coming weeks, members of the public will be asked for their views on five options for the future funding of the Tamar Bridge and Torpoint Ferry:
• Do nothing
• Increase of approx 15% on both cash and tag tolls (Car tolls to £3.00 cash/£1.50 tag)
• Hybrid increase – 23% on cash tolls with a reduced discount of 40% on tag tolls (£3.00 cash/£1.80 tag)
• Approximately 23% increase on both cash and tag tolls (£3.20 cash/£1.60 tag)
• Approximately 23% increase on both cash and toll tolls, with a supplementary £1 increase for ferry crossings (£3.20 cash/£1.60 tag with £1/50p ferry supplement
The tolls have already been increased recently – why do they need to go up again?
“The previous increase in tolls was designed to rebuild and maintain a reserve of up to £3.3m, avoiding the need for a further increase in tolls in the medium term,” says Tamar Crossings.
“Unfortunately the combination of significant increases in the cost of living and interest rates, and a reduction in income due to the lower than expected levels of traffic, means that the organisation’s reserves are forecast to be completely depleted during 2024/ 2025, with Tamar Crossings facing a significant and growing financial deficit unless there is intervention to increase income.”