HS2

11.10.17

RIA: Rail finance figures for 2016-17 represent ‘big opportunity’

The RIA have today stated that the latest ORR annual statistical report indicates a “big opportunity” for suppliers.

The report shows that while government funding was down 12.6% compared to 2015-16, private investment had a real-term increase of 13.2% to £925m.

This figure represents the highest private investment since the time series began in 2006-07 as does the £767m invested in rolling stock.

Government funding was down due to the end of Crossrail funding despite the increased HS2 backing which equalled £839m.

The overall public investment in rail – including direct rail support, PTE grants, HS2 and other support – was £4.2bn.

However, the RIA was pleased with the private funding record and remained optimistic for the future of the industry.

“These figures from the ORR are great news,” said Darren Caplan, chief executive of the RIA. “They show increasing private investment delivering upgrades to the UK’s rail system, ensuring even better service for lower cost.

“The rail supply sector is working with Network Rail to ensure the UK railways are open for business, implementing the recommendations of the Hansford Review on contestability.

“There is a big opportunity here for suppliers to get even more involved, and we look forward to working with them in the future to continue to get more third-party investment into the sector.”

For the seventh year in a row TOCs paid more money in premiums to the government than they received in subsidies although this was down 8.5% from 2015/16.

However, including direct support companies received 5.1p for every passenger kilometre travelled, the same as the previous year.

In response to the report Paul Plummer, chief executive of the Rail Delivery Group, said: “With rail ever more crucial to Britain’s economy, investment from private companies working in partnership with the public sector, is helping the nation to succeed.

“Working together, investment from rail companies is improving journeys, better connecting communities and creating jobs now and for the long term.”

Have you got a story to tell? Would you like to become an RTM columnist? If so, click here 

Comments

There are no comments. Why not be the first?

Add your comment

 

rail technology magazine tv

more videos >

latest rail news

NIC chair: Government must commit to clear plan for Crossrail 2 and NPR

16/02/2018NIC chair: Government must commit to clear plan for Crossrail 2 and NPR

Progress on Crossrail 2 and Northern Powerhouse Rail has been branded “hugely disappointing”, by the National Infrastructure Commission... more >
RMT announces further 24-hour strike on Northern and Merseyrail

16/02/2018RMT announces further 24-hour strike on Northern and Merseyrail

Further strike action on Merseyrail and Northern has been confirmed by RMT, whose members will strike for 24 hours on 3 March as part of a long-run... more >
Northern line extension: TfL warns of 5-month disruption to Bank branch services

15/02/2018Northern line extension: TfL warns of 5-month disruption to Bank branch services

TfL has cautioned passengers on the Northern Line about upgrade works which mean Bank branch services will go for a 5-month period without stoppi... more >

editor's comment

23/01/2018Out with the old...

Despite a few disappointing policy announcements, especially for the electrification aficionados amongst us, 2017 was, like Darren Caplan writes on page 20, a year generally marked by positive news for the rail industry. We polished off the iconic Ordsall Chord (p32), hit some solid milestones on Thameslink (p40), progressed on ambitious rolling stock orders (p16), and finally started moving forward on HS2 (p14) ‒ paving the way for a New Ye... read more >

last word

Encouraging youngsters to be safe on the railway

Encouraging youngsters to be safe on the railway

This summer, Arriva Group's CrossCountry and the Scout Association joined to launch a new partnership to promote rail safety among young people. Chris Leech MBE, business community manager at the... more > more last word articles >

'the sleepers' daily blog

Big Rail Diversity Challenge 2018: Exciting details announced

09/02/2018Big Rail Diversity Challenge 2018: Exciting details announced

The first details of this year’s Big Rail Diversity Challenge have been revealed and it’s safe to say the 2018 edition is set to be more thrilling than ever. Last year saw the RTM team attend the second edition in what is quickly becoming Women in Rail’s flagship event, where teams with a 50/50 gender split compete in a ... more >
read more blog posts from 'the sleeper' >

comment

NCHSR: The possibilities are limitless

06/02/2018NCHSR: The possibilities are limitless

The National College for High Speed Rail (NCHSR) has been gifted with a brand-new lab dedicated to surveying and scanning technologies designed t... more >
Keeping Britain's railway on track

06/02/2018Keeping Britain's railway on track

Mick Whelan, general secretary of ASLEF, the train drivers’ union, argues investment in track maintenance and rail infrastructure is fundam... more >
The Intelligent Infrastructure approach

06/02/2018The Intelligent Infrastructure approach

Network Rail is seeking to improve asset management whilst cutting down on expenditure by implementing a new Intelligent Infrastructure programme... more >
Project Aura: Changing the game

02/02/2018Project Aura: Changing the game

Paul Boyle, head of ERTMS at Virgin Trains East Coast (VTEC), describes how Project Aura has been revolutionising training across the organisatio... more >

rail industry focus

  • 08/12/2017A game changer for Midland Metro

    The West Midlands Combined Authority (WMCA) updates RTM’s Luana Salles on the latest projects taking place across the growing Midland Metro...
  • 09/11/2017Testing tomorrow's technology today

    David Brazier, site manager and area sales manager for the UK & Ireland at OMICRON electronics, tells RTM’s Luana Salles about the major...
  • 09/11/2017What next for safety?

    As rail businesses edge towards their target of zero injuries, improving safety performance can plateau. Amey’s sector director for rail, Lee...
View all News

interviews

Transforming travel in the north west

06/02/2018Transforming travel in the north west

RTM’s Josh Mines talks to Robin Davis, head of new trains at TransPennine Express (TPE), about the huge rolling stock change journey the co... more >