Thursday 12 Oct 2017
Response to rail infrastructure funding: statement of funds available 2019 to 2024
Network Rail responds to the government's announcement of funding for control period 6.
Commenting on the Department for Transport's announcement this morning, Mark Carne, chief executive said:
"Continued high levels of investment in our railway is essential to create the jobs, housing and economic boost our country needs to prosper. Today's announcement shows the Government's endorsement of this approach.
"Over the next 12-18 months millions of passengers will experience significant improvements to their services as thousands of new trains, faster and more frequent services come on-stream.
"Network Rail is transforming into devolved businesses to better respond to its local customers and communities. This local focus, combined with opening up the funding, financing and delivery of investment projects to third parties, will help to drive efficiencies and value for the taxpayer.
"We will submit our detailed plans to the regulator in the next few months that will help to finalise the railways funding for the five years to 2024 and continue to drive our company's transformation to better equip it for the demands ahead."
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.