Network Rail asks government for £7bn
The company that runs Britain’s rail infrastructure is asking for an additional £7 billion from the government to invest in the network.
Network Rail says the extra funding is necessary to meet the challenge of increased passenger numbers.
Redevelopment of key stations, along with improved freight and commuter lines are among the projects that the company has earmarked.
The company wants the money over a five-year period from 2009 to 2014 on top of a request for £20 billion to maintain the railways at their current capacity.
Rail traffic is predicted to grow by 30 per cent by 2014 and Network Rail wants to cater for this increase.
Reports last week suggested the government had agreed to controversial deals with rail companies to allow them to raise ticket prices to moderate demand and reduce overcrowding.
Network Rail is proposing a different approach where money is invested to meet demand, as it begins a two-year negotiation with the government over its budget.
Chief executive John Armitt told Today: “What we are doing is setting out the money which is needed to increase the capacity of the railway to meet increasing demand.”
About £3 billion of the £7 billion would be earmarked for the Thameslink programme to improve the north-south rail link through London and the south-east.
Other major projects include the redevelopment of Waterloo station, Birmingham New Street station and the freight lines between the container port at Southampton and the north of England.
Rail links to Scotland’s main airports in Edinburgh and Glasgow are also major projects for which funding is required.
Mr Armitt added: “As we have seen with the west coast main line when the railway improves we see a dramatic increase in the number travelling by train and a reduction on the number travelling by air.”
