Rail Industry to Benefit from £92.8 Billion Investment

Businesses and passengers will not only gain access to faster journeys but also better access to jobs and housing, as well as boosting the economy.

The government released last month’s spending review, which highlighted some of the investments they have planned for the rail industry.

A £92.8 billion investment into infrastructure will see £10.2 billion invested into rail enhancements and improving connectivity, especially in areas with infrequent and unreliable services.

Transport Secretary Heidi Alexander said: “Roads and railways are the backbone of our economy, which is why we are giving them the record funding boost they need, putting taxpayer’s money where it matters most and making every day journeys easier.

“With over £92 billion investment, including the biggest ever boost for city regions in the north and Midlands, we’re delivering the schemes that fast-track economic growth and jobs, connect communities, and will help us build 1.5 million new homes, as we deliver our Plan for Change.

“We’re forging ahead with the vital new transport infrastructure Britain needs, and improving what we’ve already got, to deliver a new era of renewal and opportunity.”

Logistics UK’s Head of Infrastructure and Planning Policy Jonathan Walker commented:“The government’s announcement of £92.8billion in the UK’s road and rail networks is welcome news for the logistics industry and will be of significant benefit to the rail freight sector.

“Logistics UK has consistently called for the government to support a sustainable and efficient future for freight by investing in rail infrastructure, and this new commitment to rail underscores the crucial role of the rail industry in the nation’s logistics.

“To ensure growth like this is maintained, it is essential that the government provides adequate funding to invest in enhancing capacity on the network.”