Great British Railways: Rolling Stock

Baroness Pidgeon Excerpts

Tuesday 21st October 2025 Lords Chamber

Asked by

[Baroness Pidgeon]

To ask His Majesty’s Government what work is under way to develop a rolling stock strategy for Great British Railways.

[The Minister of State, Department for Transport (Lord Hendy of Richmond Hill) (Lab)]

My Lords, my department is already working on a long-term rolling stock and infrastructure strategy, which will be the first for over 30 years, both to give certainty to the manufacturing and assembly market and to pursue modern standards of carbon-friendly traction and passenger comfort and accessibility.

[Baroness Pidgeon (LD)]

My Lords, I welcome the work that is under way. Establishing the right industry partnerships is essential to developing a more efficient and cost-effective British railway model. Can the Minister update the House on the current status of discussions with EUROFIMA and indicate when British operators might be able to leverage its financial support in the procurement of public service rolling stock?

[Lord Hendy of Richmond Hill (Lab)]

My Lords, EUROFIMA is a long-established, supranational financial institution, established as a joint stock company by an international treaty, the convention, signed by 25 European member states. It is dedicated to financing public passenger railway rolling stock and related infrastructure, as well as the modernisation and renewing of related equipment. As part of developing the rolling stock and infrastructure strategy, my department is exploring a range of financing structures to support investment in partnership with private finance. This includes active engagement with EUROFIMA to assess how its financing mechanisms could support future investment in the UK rolling stock market. If, following due diligence, EUROFIMA is considered an appropriate avenue to go down, then we would aim to accede by the end of 2026.