East Cambridgeshire District Council has saved nearly £800,000 by committing to pay its £2.05 million contribution towards the cost of upgrading the A14 25 years ahead of schedule.
It had previously been agreed with the Department of Transport the Council would pay £82,000 a year, over 25 years towards the cost of upgrading the stretch between Cambridge and Huntingdon.
However, when it was offered the opportunity to make a one-off discounted payment of £1,250,900 it leapt at the chance to make a significant cost saving.
The majority of this - just over a million pounds - utilises money the Council has received from Cambridgeshire Horizons. Cambridgeshire Horizons is a company that holds historical funds, originally received from central Government, to deliver projects that support growth in the county.
Cllr Anna Bailey, leader of East Cambridgeshire District Council, said: “The A14 is a vital transport route for almost everyone living in East Cambridgeshire. As well as providing us with easy access to Cambridge, London, the North and the East of the UK, it is an essential route from which we receive many of our goods and services.
“At East Cambridgeshire District Council, we are very mindful of making financial savings wherever possible to help keep costs low for our residents.
“This year we have already announced we will again keep the East Cambs element of the Council tax frozen for the 10th year running, and we have a balanced budget for the next two years. This additional saving of nearly £800,000 has the potential to go a long way towards continuing to keep costs low.”