£26 billion pounds to undo Railtrack’s failures.

03 August 2005

Network Rail today unveils its 2004 business plan, which highlights unprecedented investment and a clear plan for improving Britain"s railway.

 

Over the next five years the company will spend some £26 billion to deliver a safe, reliable and value for money railway.

 

Shaun Brady, General Secretary says, “Years of mismanagement and inertia by Railtrack will take years to undo but rail investment and improvements are now going in the right direction”,

 

“We need to keep up the momentum, bring more of the infrastructure in house and cut out the consultants and lawyers who have bled this industry dry”.

 

The 2004 Business Plan is the first based on a fixed and certain level of income and gives the Business stability and a clear direction. It sets out a detailed blueprint for improving performance and reducing costs through a huge programme of action and activity. It demonstrates how Network Rail will spend £14 million each day on operating, maintaining, renewing and enhancing the network to deliver the maximum benefit for Britain"s rail users.

 

Network Rail says that the “plan details Network Rail"s commitment to achieving better than pre-Hatfield levels before the end of 2006. Whilst this is already the case in parts of the country on some days and weeks, the Company"s challenge is to do so consistently over a 12 month period”.

 

John Armitt, Chief Executive, said “the plan will build on the substantial achievements of the last 18 months. Train punctuality has improved significantly and Network Rail delays have reduced. We are not complacent. We recognise the urgent need to improve the railway and that much remains to be done. Network Rail relishes the challenge ahead as it forges a new railway that is better able to cope with the increasing demands placed upon it."

 

"We are determined to succeed,” said Mr Armitt.

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