The Railway Industry Association (RIA) has today (28 October) written to Chancellor Rachel Reeves urging her to boost rail investment as part of the Government’s priority to deliver growth across the UK economy.
Ahead of the Budget, RIA Chief Executive Darren Caplan has written to the Chancellor urging her to be ambitious in leveraging the full economic potential of UK rail, including supporting private investment.
He said: “The Railway Industry Association (RIA) and our members are asking Chancellor Rachel Reeves and the Treasury to bring forward a steady pipeline of capital railway infrastructure projects and rail investment. This appeal comes at a time when passenger and freight numbers, as well as revenues, are returning to the railway and the future outlook of rail growth looks bright – in short, the need to grow the UK’s long-term track and train capacity has never been higher.
“Boosting the capacity and connectivity of the UK’s rail network will be a significant catalyst and multiplier for the national economy, driving growth and decarbonisation in all parts of the country whilst also providing social value to its communities.
“In the short-term, rail suppliers seek clarity from the Government on both rail enhancements and on leveraging private investment into public infrastructure projects. In particular, we hope Ministers will accelerate a ‘now or never’ HS2 decision on progressing tunnelling between Old Oak Common and Euston – without which there will not be a sufficient basis for future north-south capacity – and procurement of new rolling stock. Rail can be a significant enabler of UK economic growth and we call on the Chancellor to grasp this opportunity.”
Read the letter here: HMT Rachel Reeves open ltr – 281024 – Reupload – 20241025083824273.pdf.
View RIA’s submission to the Autumn Budget here: Railway Industry Association 2024 October Budget representation FINAL ONLINE 6083506427.pdf.
