THE M6 Toll road has been branded 'a terrible investment' and is losing tens of millions of pounds every year, according to a report published this week.

The report also says the toll road, which was opened in December 2003, has failed to reduce traffic on the M6 and prices for car owners have more than doubled in the past six years.

The document has been released by the Campaign For Better Transport which slammed road operators MEL (Midland Expressway Limited) for failing to provide promised congestion relief for the M6, and faster and more reliable journey times for drivers.

Studies have found that fewer car drivers are using the 27-mile road, which runs from Coleshill to Cannock, and that lorry drivers "overwhelmingly reject" the route.

The report said: "While traffic on the M6 has been rising since the M6 Toll opened, the average daily flow on the M6 Toll has been falling sharply since 2006.

"The two busiest periods, 2004 and 2006, both correspond with extensive roadworks on the M6, which substantially increased journey times and made the toll road a more attractive option for motorists."

The toll road now charges motorists £5 per single journey on weekdays, with lorry and large vehicle drivers paying £10.

When the toll road first opened car drivers were charged £2 per journey on weekdays.

Richard George, roads and climate campaigner for the Campaign for Better Transport said: "The research shows that the toll road has failed to cut congestion on the original M6 and has made big losses for its operator.

"With Government coffers running empty, it is no surprise that politicians are looking at toll roads as a way to deliver funds for new road building projects.

"But our research shows that private toll roads such as the M6 Toll don't help motorists or the surrounding area, and don't make money for investors either.

"Instead, the Government needs to spend scarce public funds on maintaining the roads we have and giving people good alternatives to car use.

"M6 congestion is now so bad that the Government is considering spending another £500m on it to deal with the problems the toll road was supposed to solve."

The report said the toll road was poor value for money and that lessons needed to be learned.

In a statement Tom Fanning, chief executive officer at Midland Expressway Limited, said: "The M6 Toll is a reliable, congestion-free route through the West Midlands, used by more than 44,000 vehicles daily, giving drivers significant time savings.

"We are pleased with the overall traffic growth on the M6 Toll and our customers recognise the benefits of our reliable service – the annual customer survey in May 2010 reveals a 90 per cent plus customer satisfaction level.

"The M6 Toll is a long-term, 50- year investment.

"The road cost almost £1 billion to plan and build, at no cost to the Government and our long-term investment approach takes into account these significant up-front costs."