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2017-10-12 RIA-001
Railway Industry Association

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Rail industry welcomes increased funding for improvements to rail network


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Railway Industry Association



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Railway Industry Association

Rail industry welcomes increased funding for improvements to rail network
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date
12 October 2017
source Railway Industry Association
type Press release



The Department for Transport has release the Statement of Fund Available (SoFA) today, setting out the funds available to Network Rail over the next five year funding period from April 2019 to March 2024 (known as Control Period 6).

The SoFA sets out £48bn of funding for the rail system for CP6, which is an increase of more than £10bn from the last Control Period (CP5). Positively, funding of enhancements to the railways will be largely additional to this.

Darren Caplan, Chief Executive of the Railway Industry Association said: “We applaud the publication of the Statement of Funds Available (SoFA) today, which sets out Network Rail’s infrastructure funding arrangements in respect of operations, maintenance and renewals for the five year funding period beginning on 1 April 2019, known as Control Period 6 (CP6).An increase of £10bn has to be strongly welcomed.

“The commitment to increased funding announced today is recognition of the need to counter the increasing backlog of renewals work. This settlement will help Network Rail and its supply chain to maintain the UK’s rail system to the greater benefit of the paying passenger, freight companies, UK plc, and represents a good deal for the taxpayer.

“On Network Rail’s major projects, or enhancements, we look forward to hearing what the Government has to say later in the year.

“The industry is aware that efficiency savings are still required in CP6. Through RIA’s Renewals Cost Working Group, we will continue to work with Network Rail and the Office of Road & Rail regulator, to improve renewals efficiency. By developing more collaborative working practices, investing in new technologies and innovations and working more closely with Network Rail and the Government, the supply chain is confident it will deliver the maintenance and upgrades to the UK's railway infrastructure required to help meet the growing demand for railways from both passengers and freight.

“To deal with the increased activity in CP6, it now becomes even more important to address the reduction in renewals volumes during the last 18 months of CP5, to March 2019. RIA continues to urge the Government to bring forward £500m of CP6 funding into CP5 to bridge that gap, increase the level of design “Development Work”, and ensure our world-class supply chain can support the UK’s railway both now and in the future.”

ENDS

Notes

1. You can read the full announcement here [[see related docs]]
2. Definitions:
a. Maintenance costs include inspection and repair of the infrastructure on a ‘day to day’ basis.
b. Renewals are where the existing infrastructure, such as the track or signalling is life expired and is replaced, without changing or enhancing its performance.
c. Enhancements are projects that improve the railway. Current examples include the Thameslink, Northern Hub or Transpennine Upgrades.
3. The Railway Industry Association (RIA) is the representative body for UK-based suppliers to the UK and world-wide railways. It has some 200 companies in membership and the sector employs 240,000 people and contributes annually £11 billion Gross Value Added (GVA). It is also a growing industry with the number of rail journeys expected to double over the next 25 years and freight set to grow significantly too. RIA’s membership is active across the whole of railway supply, covering a diverse range of products and services and including both multi-national companies and SMEs (60% by number). RIA works to promote the importance of the rail system to UK plc, to help export UK expertise around the global and to share best practice and innovation across the industry.


Railhub Archive ::: 2017-10-12 RIA-001





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