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India and UK agree on MoU in urban transport sector

India and the UK have agreed to sign an MoU in the urban transport sector for cooperation in policy planning, technology transfer and institutional organisation.

Union Minister for Road Transport, Highways and Shipping Nitin Gadkari, who was in London on a three-day visit, finalised the bilateral cooperation arrangement between the Transport for London (TfL) and the India's Ministry of Road Transport and Highways to cover a wide range of transport mobility solutions and associated activities in urban environments.


"The signing of the MoU will be completed through diplomatic channels shortly," Gadkari said.

During his visit to the headquarters of TfL in London, Gadkari was given a presentation on strategy and policy reforms, customer experience and data analysis with respect to London buses and other integrated modes of public transport in the Greater London area.

Under the proposed MoU, the TfL will share with the ministry of road transport and highways its expertise on the mobility and efficiency of transport system and methodologies to facilitate the planning and delivery of mobility solutions, including ticketing, passenger information, major project financing, infrastructure maintenance strategies and behavioural change and public transport promotion.

The road transport and highways ministry expects to strengthen cooperation on electric buses, bus innovation and capacity augmentation and water transport following today's meeting with TfL authorities.

TfL claims to provide world class services that keep the British capital better equipped with public transport. It also virtually coordinates all the London transport, including London metro, the bus network, Dockland Light Rail, water transport and cable car etc.

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Under the policy, property owners will face a recurring annual charge additional to existing council tax liability.

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Rachel Reeves announces annual tax on homes worth over £2 million

Highlights

  • New annual surcharge on homes worth over £2 m comes into force in April 2028, rising with inflation.
  • Tax starts at £2,500 for properties valued £2m-£2.5m, reaching £7,500 for homes worth £5m or more.
  • London and South East disproportionately affected, with 82 per cent of recent £2m-plus sales in these regions.
Britain has announced a new annual tax on homes worth more than £2 million, expected to raise £400 million by 2029-30, according to estimates from the Office for Budget Responsibility.

Chancellor Rachel Reeves pointed that the measure would address "a long-standing source of wealth inequality in our country" by targeting "less than the top 1 per cent of properties". The surcharge will come into force in April 2028.

Under the policy, property owners will face a recurring annual charge additional to existing council tax liability. The rate starts at £2,500 for homes valued between £2 m and £2.5 m, rising to £3,500 for properties worth £2.5 m to £3.5 m, £5,000 for £3.5 m to £5 m, and £7,500 for those valued at £5 m or more.

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