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The Financing of the Humber Bridge.
| The Bridge Construction was funded by way of government loans, which was to be repaid out of the Toll income, and the Humber Bridge Board having powers to fund any deficit from rate
precepts.
Technical difficulties, problems with the labour force and unusually bad weather led to the construction taking 9 years instead of the proposed 5 years, couple this with high rate of price
inflation during this time, these were the main reasons for the increase in cost.
When the bridge opened to traffic in 1981 the operating costs left too little surplus to cover the cost of the mounting interest charges and the debt grew year by year. In the period of 1992 to 1998
the government made annual grants to the Board so the debt would not increase. In 1998 and agreement was made between the government and the Board, were all monies owed was consolidated into a single
loan with a reduced interest rate. Some of the debt was written off and some of it had the interest suspended.
At the present rate it should be fully paid off within a period of 40 years from 1998, and with no need for using the rate precepts. |
The Humber Bridge Debt
| The bridge and approach roads cost a total of £98m but by the time the bridge opened to traffic it had risen to £151m as a result of the interest charges which occurred
during the construction period.
(The original estimated costs for construction were £28m ) By 1982 the debt was £164.6m, and 1992 it had increased to £439.3m.
It was pegged at £435m during the period 1992-1998. After the restructure of the Boards finances in 1998 the debt in 1999 was £354m. |
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On this picture you can see the southern anchor point and the road approach to the bridge. |
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This picture was taken at low tide just west of the bridge on the south bank allowing you to see the Piers of the southern towers. |
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