Monday 18 Feb 2019
Network Rail gives ‘green-light’ to next five-year railway spending plan
- Region & Route:
Network Rail has given the ‘green-light’ to the funding package and spending plan for Britain’s railway infrastructure for the five years to 2024 (known as Control Period 6, or CP6 – 1 April 2019 to 31 March 2024).
In a letter to John Larkinson (the Office of Rail and Road’s chief executive), Andrew Haines, Network Rail chief executive, says: “The purpose of this letter is to confirm Network Rail’s Board’s decision that it will not be making any objections to ORR’s conclusions on CP6.
“Our decision is the culmination of almost three years of work. We are grateful for the open and collaborative approach that ORR has taken over this period. We believe this has been key in leading to a set of conclusions that wraps around the way we run our business and ensures that our focus during CP6 is on delivering for passengers, freight users and other stakeholders.”
The company, and its geographically devolved routes, will publish detailed spending plans for the five years at the end of March, just before the new control period starts (1 April).
The plans will detail how the company plans to spend the £billions made available for the five years by governments and funders aimed at improving and growing Britain’s railway network.
The heavy investment the railways have seen over the past five years will continue, but with a particular focus on delivering a more reliable and punctual railway for the millions of passengers and business who rely on it every day.
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About Network Rail
We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.
Every day, there are more than 4.8 million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.