This from the Transport Select Committee...
The process for deciding the funding and outputs of Network Rail for the control period 2019-2024 is underway. Against this background, the Committee wishes to understand whether the current system of planning and delivering investment in rail infrastructure is adequate. The Committee is particularly interested in submissions addressing:
The impact of postponing renewals from the current control period into the next and the implications of the Secretary of State’s decision to remove enhancements from the control period process
The adequacy of the control period process in enabling the delivery of long term rail infrastructure objectives
Whether Network Rail’s long term planning process is effective in providing the industry with strategic direction beyond the five year control period.
As usual, RIA was quick off the mark, punting this out at close of play on Friday...
Darren Caplan, Chief Executive of the Railway Industry Association (RIA) said: “The Railway Industry Association has been urging politicians since the summer that there is a £500m shortfall in the current Control Period of railway funding, CP5. This shortfall needs to be addressed to avoid cancellations and delays on the railway system up to March 2019, when CP5 ends. However, we have also been calling for a look at the wider long-term issues around funding the railways, and so we strongly welcome the news that the Transport Select Committee has committed to investigate this.
“The current Control Period system creates boom and bust cycles in the industry, meaning rail suppliers need to increase their capacity at the start of the funding period, but then see a sharp drop off in workload near the end, jeopardising jobs and the ability of small and medium sized enterprises to survive. Ultimately this boom and bust increases the cost of renewing and maintaining the railway system by up to 30%. So we look forward to working with the Transport Select Committee to see how the funding system can be improved, to enable the best possible service to passengers and freight, and the best value to the taxpayer”.
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