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Boris Johnson to unveil £3bn bus sector shake-up to drive 'levelling up

Critics say strategy ‘lacks ambition’ in addressing challenge of getting people back on to public transport
A new £3bn transport strategy will lead to the creation of hundreds of miles of new bus lanes, fares with daily price caps and more evening and weekend services, according to the government.
The prime minister is unveiling a shake-up of the bus sector and planning lower, simpler flat fares in towns and cities, turn-up-and-go services on main routes, and new flexible services to reconnect communities.
The Department for Transport (DfT) said the strategy would see passengers across England benefiting from more frequent, more reliable, easier to use, better coordinated and cheaper bus services with the aim of encouraging more people to take the bus rather than drive.
Changes include hundreds of miles of new bus lanes, fares with daily price caps so people can use the bus as many times a day as they need, more services in the evenings and at weekends, and all buses accepting contactless payments.
To help people easily move from bus to train, there would be integrated services and ticketing across all transport modes, the DfT said.
The government is promising to deliver 4,000 new British-built electric or hydrogen buses, transition cities and regions across England to emission-free buses, and safeguard the UK bus manufacturing industry.
And it is promising to end sales of new diesel buses, and has launched a consultation on the end date.
The DfT said it expected to see local authorities and operators working together to deliver bus services so frequent that passengers could just “turn up and go” – no longer needing to rely on a traditional timetable and no longer having to wait more than a few minutes.
Boris Johnson said: “Just as they did in London, our reforms will make buses the transport of choice, reducing the number of car journeys and improving quality of life for millions.”
Mick Cash, general secretary of the Rail, Maritime and Transport union, said the strategy appeared to “lack ambition” for addressing the challenges of getting people back on to sustainable public transport following the Covid-19 pandemic.
He said: “The only way to deliver an effective, integrated, accessible and affordable local bus network is for the government to provide guaranteed ringfenced national funding for all local authorities to deliver the bus services their communities require.”
Labour’s shadow bus minister Sam Tarry said: “This so-called strategy offers nothing for those who were looking for a bold vision to reverse the millions of miles of bus routes lost across the country. People will be wondering when they return to work whether there will be enough affordable and regular buses for their daily commute.
“The Tories said deregulation would improve our buses but they’re running bus services into the ground. Passengers now face a toxic mix of rising fares, cuts to services and reduced access.”
Cllr Darren Rodwell, Local Government Association transport spokesperson, said: “Councils want to work with government to make sure every community is able to access a local bus service.
“We would urge government to also plug the £700m annual funding gap councils faced before the pandemic in providing the concessionary fares scheme, which would help to protect local routes and reverse the decline in bus services.”
source: Joel Goodman
Levant
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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