Where does the toll money for the Severn Bridge go?

[lillea666]

I heard recently that it was actually the french that received the toll money for the Severn Bridge which confused me a little?! Also I would imagine that the building of the bridge has now been paid for by the toll money so why are they still charging?

[jno]

for upkeep, presumably, though why it shouldn't be repaired from the same pot of money as every other road is beyond me. I've never heard the France story before and haven't found anything on Google.

[kempie]

The Second Severn Crossing was built by a business consortium under a Public-private partnership (funded and operated through a partnership of government and one or more private sector companies). A company called Severn River Crossing Plc, led by John Laing plc and GTM-Entrepose [a French constructor], was formed to build the new crossing. The company also took over the responsibility of managing and maintaining the old Severn Bridge crossing, as well as managing and maintaining the new crossing. The cost of constructing the new crossing was expected to be paid for by tolls collected from motorists using the two crossings.

The company has until 2022 to recoup its "fixed sum of money" through tolls...

http://www.severnbridge.co.uk/legislation.shtm l

http://www.cnplus.co.uk/News/1990/12/07dec90_u k_government_to_put_190_million_into_laings_an d_gtm_entreposes_severn_crossing_project_gtm_e ntrepose_is_owned_by_lyonnaise_des_eaux_fra.ht ml

[kempie]

oops... the pertinent bit of that inaccessible link to a 1990 report:

Civil servants have calculated a toll revenue total that will cover the consortium's costs, interest payments and include a profit.The consortium has a maximum of 30 years to hit that target before both bridges revert back to state ownership.But DTp financial experts believe it will take only 20 years to reach the total and the Government will take over the bridges' running before 30 years... And if they fail to recover their costs after 30 years then they will make a loss.

[JonnyBoy12]

Talk about a bridge over Troubled Waters! Mind you I have only ever gone over it eastbound, so I shouldn't complain!