Concern at ‘boom and bust’ rail funding
Business leaders in the rail industry have voiced concerns about the ‘boom and bust’ in rail funding.
In a survey of 122 leaders by independent polling company ComRes, conducted between September 12 and October 15, 99% of respondents said there are peaks and troughs in rail funding to some degree, with two-thirds saying the term ‘boom and bust’ best described the nature of Government spending in rail.
More than four in five respondents warned of a negative impact on their businesses, with 61% having frozen recruitment.
Railway Industry Association Chief Executive Darren Caplan said: “It is clear from this new poll that the ‘boom and bust’ rail business leaders are facing in rail funding stops them from investing or hiring new staff and, in the case of SMEs, jeopardises their ability to survive.
“It also adds up to 30% to the cost of rail infrastructure work, making the railway more expensive for passengers, taxpayers and the Treasury alike.”