New high for private sector investment in Britain’s railway, official statistics show
The regulator of Britain’s railway has published new figures today that show private sector investment in rail has increased to £1.3 billion, the highest it has been in the last decade.
This takes the total amount invested by the private sector in rail to £6.9 billion since 2007-08.
Responding to the figures, Paul Plummer, chief executive of the Rail Delivery Group, which represents the rail industry said, said:
“Record investment from the private sector will help to fuel the largest improvement in our railway since Victorian times. This will see customers benefit from the roll-out of 7,000 new carriages and improved stations across the country as part of the rail industry’s joint long-term plan.”
Over the last twenty years there has been a £2.2 billion turnaround in the cost of running the railway, from a £2 billion deficit to a £200 million surplus. As the running of the railway covers its costs, it means that money from the public and private sectors goes into investing to improve for customers, communities and the economy.
ENDS
Notes to editors
- The figures, published by the Office of Rail and Road and collected by the Office for National Statistics, can be found on the ORR data portal.
- The Rail Finance 2017-18 Annual Statistical Release report details private investment on page 12.
- This surpasses the peak set last year, when £925million in private sector funding was invested in rail.
- The figures show that £1 billion was invested in new rolling stock. Train companies are rolling out 7,000 new carriages by the early 2020s as part of their plan to change and improve.