The UK’s Network Rail has published its five-year plan from 2019 to 2024 (Control Period 6, CP6), which will see the company spend up to £47bn to improve railway services across the country.
The total expenditure proposed under the plan marks a 25% increase over the amount outlined for the previous CP5 (2014-2019).
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An additional £10bn railway enhancement fund has also been allocated by the government, which will be made available to Network Rail and other companies to finance different railway projects.
The new Strategic Business Plan (SBP) includes route-by-route plans and covers Network Rail’s planned expenditure regarding operations, maintenance and renewals.
The Office of Rail and Road (ORR) will now assess the plan to determine Network Rail’s funding requirements.
Network Rail chief executive Mark Carne said: “Passengers journeys will be transformed in the next few years as thousands of new trains enter service.
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By GlobalData“By 2021 there will be almost 350,000 more services per year than today, an average of an extra 1,000 services a day, better connecting communities and driving economic growth across the country.
“This plan builds on these improvements and sets out how we will make the railway more reliable and cost-efficient, and how we accelerate the technological transformation of our railway into the digital age.”
The new SBP aims to reduce the number of delayed trains by 15% by working directly with train operating companies.
The proposed expenditure takes into account day-to-day improvements, as well as a huge increase in the number of services and the usual deterioration of railway infrastructure.
It aims to reduce energy consumption by 18%, carbon emissions by 25%, mental health absence by 30% and increase women’s employment by 50%.
