For the first time in 30 years, the railway will take a coordinated approach through Great British Railways (GBR) to decide on trains, track, depots, and maintenance, ensuring investment is planned across the entire network instead of in isolation.
The Rolling Stock and Infrastructure strategy sets out a new policy for future train procurements. For the first time, GBR will assess whether direct public ownership, leasing or other financing arrangements offer the best value for taxpayers and fare payers. The Government’s decision to take back public control over the railways aims to create a more joined up system that puts passengers first, delivers better and more reliable services, and leaves the fragmentation of the past behind.
For more than three decades, most passenger trains have, by default, been owned by rolling stock companies and leased to operators. Now, GBR will take a take case-by-case approach to new trains and consider whether private or public ownership gives taxpayers the best overall value. Leasing and maintenance costs for trains costs taxpayers and passengers more than £4 billion a year, and the Office of Rail and Road (ORR) reports that yearly dividends from rolling stock companies totalled more than £2.5 billion over the last 10 years.
