Railway Equipment

New ￡48 Billion Funding for Britain’s Railways

The Minister of Transport, Julie Grayling, announced the latest phase of the government's record investment in the UK on October 12, 2017.

He set out the next round of rail funding, announcing that around £48 billion will be spent on the network over a 5 year period, from 2019 to 2024, including more maintenance and a huge uplift in renewals to increase reliability and punctuality for passengers.

The funding comes on top of record rail funding over the past 5 years as the government delivered the biggest rail modernisation programme for over a century.

And the Transport Secretary confirmed there will also be a new funding process for major upgrades and enhancements which will provide more rigour in investment decisions to make sure public spending best meets the needs of passengers and freight.

Transport Secretary Chris Grayling said: This government is continuing its record funding in Britain’s rail network. As a commuter, I know how frustrating it is to be delayed by problems on the line. Passengers want a railway they can rely on and that’s where this huge investment will make a real difference to their everyday lives – by renewing more tracks earlier and increasing maintenance to deliver far better services.

This investment is about boosting reliability and punctuality for millions of journeys, and we will do this alongside building major upgrades around the country and delivering new, faster, more comfortable trains.

The statement of available funds in the railway sector continued the record investment of the government, with direct allocations reaching $ 33.7 billion for expenditure from 2019 to 2024. Once the expected income of the network rail is calculated and added to the total expenditure it will be £ 47.9 billion.

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