Long-term certainty encourages investment and innovation by providing confidence for businesses to invest in skills, equipment, and research to meet the needs of the future railway. Longer term planning horizons reduce costs and help ensure healthy competition. Rail infrastructure decisions need to be made in the context of a clear overarching long-term strategy, which is currently lacking. The strategic case for investment should be the most important question in making choices about rail infrastructure projects.
RIA has advocated for longer term planning in the rail industry, to give certainty to our members. This has included giving evidence at the House of Commons Transport Select Committee, voicing the view that long term planning should be considered in the Draft Rail Reform Bill.