Response to rail infrastructure funding: statement of funds available 2019 to 2024.(Network Rail)

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.”