Submission to the Spring Budget
12 February 2020
RIA has published its submission to the Government's Spring Budget. The Budget will be given by the Chancellor on 11 March 2020.
- The rail industry is a vital sector for the UK economy, providing investment, jobs and economic growth;
- However, RIA has identified five ‘crunch points’ which, if not resolved, will pose a barrier to the Government’s investment programme up to 2024. These crunch points are: renewals, enhancements, rolling stock, decarbonisation, including electrification, and digitalisation;
- On renewals, the Government needs to implement a ‘future visibility’ scenario which sets a level of renewals work that supports a ‘steady-state’ / minimum volume of renewals for the following CP;
- On enhancements, the Government needs to provide more information within the Rail Network Enhancements Pipeline (RNEP), bring forward the design work of selected schemes and move forward with Market Led Proposals (MLPs);
- On rolling stock, a long term, stable pipeline of rolling stock orders is needed for both the industry and to reduce costs for passengers; rolling stock procurement must be considered both within the Government’s decarbonisation strategy and the Williams Rail Review;
- On decarbonising the railway by 2040, the Government needs to provide a ring-fenced fund for a rolling programme of electrification on intensively-used rail, in order to retain skills and expertise, and develop and promote a range of clean traction modes for the future, such as hydrogen, battery and bimodes;
- On digitalisation, the Government should bring some digital signalling work forward from CP7 so that the industry does not see a steep ramp up in work in 2024.
Read the Submission