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Section 3 -
Delivering financial sustainabilityRail is both a public service, supported by the taxpayer, and a business, run by private operators, with paying passenger and freight customers. The railways have received unprecedented levels of public support throughout the pandemic, protecting the essential services that people, including commuting key workers, rely on. As the recovery and rail reform gains pace, as with all areas of public expenditure, there is an onus on the rail sector to ensure value for money for users and taxpayers in how funds are used, and it must harness the incentives of the private sector to deliver the service in the most cost-effective way.
The railway, accordingly, must seek to deliver infrastructure and services more efficiently, in order to maximise beneficial outcomes while balancing costs against revenue and taxpayer funding. This is more than just a short-term issue: we are clear that reducing the cost of the railway, increasing efficiency including through innovating with private partners, and achieving a better deal for users and taxpayers is a critical priority over the next 30 years.
When considering your answer to the question below, please consider how we can support greater efficiency (such as joined up operations), innovation, alternative sources of funding and/or cost base reduction. Similarly, what steps you would propose to improve the efficiency and reduce the cost of infrastructure projects, operation and maintenance, and what evidence you have to support your response.
Question 3
Where are the most significant opportunities and barriers to delivering financial sustainability in the rail sector over 5, 10, and 30 years and how do we achieve/overcome them? How can we most effectively monitor and assess this? What is a stretching yet realistic ambition for this objective and what measures can we most effectively use to consider success over the coming 5, 10 and 30 years? What are the interventions over that period which will be the maximum value for money?
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