The future of a major traffic-busting road scheme in Leicestershire hangs in the balance due to a whopping multi-million-pound funding gap.

Leicestershire County Council highways bosses have revealed that the A511 Growth Corridor faces a huge £13m shortfall after officers tallied an updated cost estimate in July.

The major highways scheme will see upgrades to multiple junctions and sections of the A511 between A42 Junction 13 -near Ashby – and the A50 Field Head roundabout in a bid to reduce traffic congestion and support future growth for housing and businesses.

According to documents, the cost of the scheme is now estimated at £84.6 million, but available funding is only £71.6 million – made up of Department for Transport cash and developer contributions.

That means if county council bosses decide to go ahead with the scheme in December, the authority will have to plug the gap.

The council already faces an almost £90m gap by 2029.

Highways bosses say some of the reasons for the increase in cost are due to "significant" water and drainage issues for the corridor and "complex" engineering challenges around the proposed Bardon Link Road.

Four options are currently on the table: proceeding as planned, modifying it to find cost savings, pausing the scheme, or scrapping it altogether.

This leaves Reform UK cabinet bosses with a tough decision about the scheme's future, which is set to be decided in December.

Despite this, officers at the council have acknowledged that the scheme, if it goes ahead, would provide "high value for money" and help support major growth in Coalville and the surrounding areas.

During the council's Growth, Highways and Transport Overview and Scrutiny Committee on November 5, councillors and officers met to discuss the funding issues and challenges.

Cllr Craig Smith, Conservative councillor for Coalville North, said that scrapping the scheme "could not be considered" and that traffic on the existing A511 has been "affecting residents for years"

He added: "I can not stress enough what this will mean to the residents of Coalville.

"I've lived in my area all my life. We've got traffic management causing absolute carnage in Coalville. It's got to be done. I want this to be done.

"But if we are then to turn around in a few months' time … and say we're not going to do that, how can I go back to my residents?"

Cllr Smith later asked Reform UK road boss Cllr Andrew Hamilton-Gray if he would support the scheme.

"From a personal perspective, you have my support but as I said, it is ultimately not up to me", Cllr Hamilton-Gray said.

Reform UK Cllr Graham Cooke told the meeting he felt it was "hell of a lot of money thrown into a road".

He added: "How much more money do we throw at roads to compensate for the money to go faster or to make them more convenient?

"I know it happened in Melton, I'm sure it's fantastic now … but I'm really concerned about areas growing and expanding".

Susan Baum, strategic financial manager at Leicestershire County Council, told the committee it was a "really difficult dilemma".

She said: "As an authority, we have a revenue funding gap of £85m. We've got a capital funding gap of £75m.

"That takes no account of new funding streams … and capital programs going forward.

"We will need to borrow if we can't fund this… From the business side of things, this is money that we would not otherwise have access to. It is externally funded.

"We're in this very difficult climate at the moment".

A Leicestershire County Council spokesperson said: "The A511 is an important transport corridor for Leicestershire, linking communities, businesses and strategic routes including the A42 and M1, while supporting future housing and employment growth in North West Leicestershire.

"Work is currently underway to confirm the latest costs and funding position and Cabinet will consider proceeding to construction with the full range of evidence, including the wider benefits for Leicestershire, before making the final decision.

"As with all capital schemes of this scale, proceeding is subject to a Cabinet decision".