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Fri July 19 2024

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Network Rail publishes £44bn five-year plan

22 May 23 Network Rail has published its spending plans for Control Period 7 (CP7) – 2024 to 2029.

The £44.1bn, five-year plan for the railway in England and Wales sees increased investment in tackling climate change and improving train services.

To make the railway more resilient to wet weather, £1.6bn will be spent on earthworks and drainage renewals.

Network Rail also plans to invest in equipment on trains that monitors infrastructure condition remotely without having to send employees onto the track, exposing them to danger.

Some £1.85bn will be spent on new signalling systems.

There is also money going on renewing lifts and escalators, and improving lighting and passenger information systems

Network Rail chief executive Andrew Haines said: “As we look to the next five years, the government’s commitment to invest £44bn in the operations, maintenance and renewal of England and Wales’s railway is a clear indication of the strong economic value rail brings to Britain.

“Our plan for CP7 is ambitious, focussed on our passengers and customers and reflects the current complexities and challenges facing the industry. There will no doubt be obstacles ahead and I look forward to working collaboratively with the sector to deliver this plan, reshape the industry and build a railway that is fit for the future.”

Capital projects – enhancements – are funded separately on a case-by-case basis and no longer form part of Network Rail’s five-year settlement.

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