Question to the Department for Transport:

To ask His Majesty's Government what assessment they have made of the implications for investor confidence in the United Kingdom of the powers under clause 71 of the Railways Bill to amend or terminate existing access agreements.

The Government intends to preserve both the duration and the substantive Schedule 5 access rights contained in existing contracts through the transition to Great British Railways (GBR). The power at Clause 71 is not intended to revisit, reduce or extinguish those rights; rather, it is intended to ensure they continue to have practical effect within the new regime. That commitment was introduced in the Government's consultation on the Railways Bill, confirmed in the formal response, and reiterated throughout passage in both Houses. We do not envisage departing from that approach, recognising its importance for operators and for maintaining investor confidence in rolling stock and wider rail supply chains. Accordingly, no adverse impact on rolling stock investment or wider investor confidence is anticipated.