Wednesday 17 Dec 2008
NETWORK RAIL RESPONDS TO CONSERVATIVE STATEMENT ON CORPORATE GOVERNANCE
Earlier this week, the Conservative Party outlined its proposals to change Network Rail's corporate governance. Today, Network Rail issued its formal response.
Network Rail welcomes this week’s announcement by the Conservative Party that it has moved move away from advocating a restructuring of the railway industry. In the week when Network Rail successfully introduced a new timetable, offering hundreds more trains and thousands more seats for passengers, it is appropriate that the Conservative Party is not considering wholesale changes to the industry. Network Rail is firmly of the view that stability is vital to allow long-term planning and investment in new and improved railway capacity.
Network Rail’s Members, to whom the company is accountable, comprise passengers, freight users, train operators and others in the rail industry, as well as the general public. The Members are looking at the effectiveness of the membership structure and its potential for development and the Conservatives’ thoughts will undoubtedly be considered as part of this process.
In Network Rail’s view there are three key tests for any proposals about the governance structure. Specifically any changes should:
- improve safety and performance;
- drive cost efficiency;
- help deliver additional railway capacity.
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 4.7 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.
We are building a better railway for a better Britain.