Question to the Department for Transport:

To ask the Secretary of State for Transport, if he will make an assessment of the potential merits of the UK signing up to the European Company for the Financing of Railroad Rolling Stock convention.

The Government is supportive of international initiatives to help deliver new vehicles and upgrade existing fleets that improve passenger experience and support our decarbonisation objectives. We are committed to encouraging investment in domestic and international rail services and unlocking greater private financing to support this.

My officials have engaged regularly with Eurofima, the company established by the convention, to discuss the potential opportunities and costs associated with it. However, given the significant membership requirements of Eurofima, any decision would be subject to the usual value for money considerations.