The Government has unveiled a major new rail freight growth strategy, placing freight at the heart of Great British Railways (GBR) and setting a target to increase rail freight volumes by at least 40% by 2040.
Announced today, Tuesday 8 September, the target represents the first milestone towards the Government’s longer-term ambition of increasing rail freight by at least 75% by 2050. Ministers say the commitment will provide certainty for investors, strengthen supply chains and support economic growth across Britain.
Rail freight already contributes almost £34 billion annually to the UK economy. Achieving the new 2040 target could add a further £15 billion in economic value, enabling businesses to transport more goods efficiently while reducing pressure on the road network.
