UK: A poll for the Railway Industry Association has found that 48% of rail business leaders surveyed believe the industry will contract in the next year.
The survey was conducted by market research company Savanta in September and October, albeit before the Budget on October 30, when the government confirmed a number of projects and committed to publishing a long-term rolling stock pipeline.
The survey found:
- 26% of respondents believe that the rail supply industry will grow in the next year, with 48% saying it will contract. This is a slight improvement from last year’s score of 54%;
- 46% think their business will grow and 29% say they will contract in the coming year. This is largely consistent with 2023, but is the lowest score of the last five years;
- as last year, 83% think it likely that there will be a hiatus in rail work over the next year, for example due to the time taken to deliver rail reform or uncertainty over enhancement or major projects budgets;
- the three main measures rail businesses will take in response to a hiatus in the coming year are freezing/slowing recruitment (51%, up from 44% in 2023), prioritising work outside the UK (51%, up from 42%) and pausing or slowing plans to expand in the UK (35%).
RIA Chief Executive Darren Caplan said ‘we call on the government to set out a clear roadmap for rail investment as soon as possible, including plans for rail enhancements and rolling stock procurement and refurbishment. Visibility of these plans would provide rail suppliers with the certainty they need, ultimately helping to deliver the rail services customers — both passengers and freight — want and the value for money taxpayers expect.’
