Friday, 6 December 2013

NR nationalised - almost...

This from the Office for Budget Responsibility - Economic and fiscal outlook, Box 4.2, page 98...

the classification of Network Rail:
Network Rail is currently classified as a private sector body. The ONS is reviewing that classification against the revised guidance in ESA10. Network Rail had £30 billion of debt recorded in its latest accounts, up from £8 billion at formation in 2002. Based on published plans, its operations imply the equivalent of around £3 billion of borrowing a year on average over the coming years. A change of classification could therefore increase PSND by about 2 per cent of GDP and PSNB by 0.2 per cent of GDP on average, with implications for future debt;

No doubt both TfL and Scotland are looking forward to managing, maintaining and upgrading their devolved railway assets?

Great Western Railway Band at Paddington

This via @NetworkRailPad...

The Great Western Railway Band performs at Paddington Station every Friday between Easter and Christmas. The concerts start at 19.30 every week, finishing at 21.00hrs.

Accompanied by band mascot Patch the dog, the GWR Band delights passengers at Network Rail managed Paddington Station with a different playlist each Friday

Good effort.