The Railway Industry Association (RIA) has called on the Government to provide more certainty on rail restructuring, enhancements, major projects, and long-term funding plans.
The call came on the eve of an address by Transport Secretary Anne-Marie Trevelyan to the Conservative Party conference in Birmingham,
By providing this certainty, it will ensure the rail industry has sufficient funding for its requirements, which will unlock the potential for private investment so that it can do even more to generate economic growth.
The Railway Industry Association says that the Government can help by:
- Confirming the timing for Great British Railways (GBR) restructuring. Whilst the Railway Industry Association and its members acknowledge that there is a new Transport Secretary and Rail Minister and they will need time to familiarise themselves with their new roles, confirmation of when and how the new Government intends to establish GBR is needed now as the current ambiguity risks causing a hiatus in rail work.
- Publishing the Rail Network Enhancement Pipeline (RNEP). Although the Government stated it would publish this pipeline of work every year, it has been almost three years since the last update was made public.
- Confirm the timeline and scope of major projects. Confidence is being damaged and investment jeopardised by the uncertainty and speculation around projects such as HS2, East West Rail, and Northern Powerhouse Rail. Clarity is needed from the Government on the status of all elements of these projects.
- Confirm CP7 funding. In order to make plans for long-term investment, up to the end of the decade, the rail industry requires certainty on funding, therefore the Government must confirm what funding is available for Control Period 7 (CP7) as soon as possible.
Commenting, RIA's Chief Executive Darren Caplan said: “UK rail is well positioned to support the Government in its mission to boost economic growth, with the industry contributing £43bn of GVA, supporting 710,000 jobs, providing £14bn in tax revenues to the Treasury, and generating £2.50 in the wider economy for every pound spent on the railway sector.
“But rail's potential to deliver economic growth will be hampered by uncertainty and ambiguity if we do not get confirmation of the Government's plans.
“As the new Transport Secretary Anne-Marie Trevelyan prepares to address the Conservative Party conference in Birmingham, we urge her and her colleagues in Government to provide the clarity the railway industry needs on Great British Railways, the Rail Network Enhancements Pipeline, major projects and long-term funding.
“By doing so, the Government would not only help to unleash the potential of rail to help drive economic growth, it would also provide a boost to connectivity and capacity, which the country is going to need in future if it is to link and level up communities across the UK”.
