The author of this article argues that critical decisions about the future of the UK's roads are too important to be subject to party-political decisions. He argues that the time has come to commercialise roads and treat them like the big business that they are. The idea of commercialising British roads is not new; for example, in 1998, D Newbery suggested commercialising them by transferring them to a new Roadtrack company, analogous to Railtrack, which would be regulated by a new 'Office of Road Regulation' (OFROAD). Such a structure would develop a close relationship between road users and road service providers, giving incentives for efficient use and investment. It could include: (1) a tariff of charges for uncongested road use, perhaps levied from fuel charges and lorry licence fees; (2) dedicated road fund(s), outside Treasury control, to receive and spend the road use charges; and (3) ownership of existing roads by commercial road corporations, which would have no monopoly powers. The road corporations would have to meet all their costs from road user charges and perhaps also from property owners (for access roads). They would be allowed to impose peak-period charges for the use of congested roads. Their investment would be guided by financial profitability.
Abstract