De­ci­sion pend­ing on fund­ing short­fall

Rail (UK) - - News -

A pro­posal to bring for­ward £500 mil­lion fund­ing for re­newals from Con­trol Pe­riod 6 to CP5 is be­ing con­sid­ered.

Ac­cord­ing to the RIA, a short­fall of half a bil­lion pounds could lead to the sup­ply chain mak­ing re­dun­dan­cies and de­fer­ring in­vest­ment un­til the be­gin­ning of CP6 in April 2019.

Rail Min­is­ter Paul May­nard told the RIA’s an­nual con­fer­ence that these con­cerns had been heard ‘loud and clear’ and that a fur­ther an­nounce­ment would fol­low.

He said: “The case to bring for­ward fund­ing from CP6 to CP5 that has been made loud and clear by RIA, Net­work Rail and oth­ers has been heard. Watch this space!”

RIA

Rail Min­is­ter Paul May­nard.

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