UK: Chancellor Rachel Reeves is urged ‘to see UK rail as an investment in the economy rather than just a cost’ in the Railway Industry Association’s submission to the Treasury ahead of the budget on October 30.
RIA calls on the Chancellor to bring forward a steady pipeline of capital projects and rail investment, saying this would lower costs, create jobs, boost growth and ultimately secure industrial and manufacturing capacity.
‘Boosting the railway network is crucial to the economy, local growth, decarbonisation and providing social value to communities around the country’, RIA Chief Executive Darren Caplan said on September 10.
’We also hope that Treasury officials will use this budget to leverage private finance to turbo-charge public investment. This should include making urgent decisions on rolling stock manufacturing in the short to medium terms.
’On High Speed 2 there is a now or never decision to progress tunnelling between Old Oak Common and Euston without which we will not secure sufficient north-south capacity for the future.
‘UK rail is crucial to the government’s sustainability and industrial strategy aspirations, and we would encourage ministers to be positive about the future role the industry can play with the right policy framework and political ambition.’
