Network Rail: Finance

(asked on 16th May 2023) - View Source

Question to the Department for Transport:

To ask His Majesty's Government whether they require Network Rail to maximise income generation at each site within its estate, regardless of heritage or other impacts; and if so, whether they will publish that policy.


Answered by
Baroness Vere of Norbiton Portrait
Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
This question was answered on 31st May 2023

There is no such policy. Network Rail is a publicly funded body, subject to Managing Public Money guidance on public spending and private finance and is held to account by The Office of Rail and Road (ORR). The ORR determines how much money Network Rail needs to run the business efficiently and to deliver the infrastructure for the UK and Scottish Governments. Business plans across the regions and its estate focus on delivering a better experience for passengers and customers. Where projects with a strong commercial case can attract private investment to deliver a better railway, this allows public funding to be invested in other areas of the network. Network Rail follows all guidance and regulations to ensure such partnerships are fully compliant with rules governing public bodies, as set out in its Framework Agreement with the Department for Transport.

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