Published on : Monday, October 30, 2017
The suppliers of the railway companies in Britain and Network Rail have revealed plans to collaborate more closely with an aim to trigger a £85 billion boost in the form of additional economic benefits to the UK economy.
The chief executive of the Rail Delivery Group, Paul Plummer mentioned that this plan would go a long way in delivering the railway that the economy, communities and customers require as Britain gets ready to quit the European Union.
As much as £11.6 billion has been derived from the private sector over a decade that would be delivering £85 billion boost to the economy as per the research conducted by Oxera that is an economics consultancy.
Nearly 5,700 of new carriages would be ready on track by the year 2021 adding an additional 6,400 services a week.
This plan outlines four commitments from the railway companies and it includes obtaining a grip on costs. Rail firms said that they would be strengthening the contribution of railways to the economy and keep running costs ‘in the black’ freeing up the money of the taxpayers.
The group said that the private and public ‘partnership railway’ of Britain would be improved considerably with the creation of joint local boards with customer representation and also as a support as an independent rail ombudsman to deal with complaints.
Furthermore there are also few plans to raise 20,000 new apprenticeships in rail and its supply chain by the year 2020.
Plummer said that the plan would be firmly securing economic benefits from current investment by the public and private sectors and also enable more improvement and investment.
The chief executive of Network Rail, Mark Carne mentioned that passengers across the nation would be witnessing a ‘transformation in the services they receive’ in the next 18 months.
He then went on to add that a large number of fresh trains would be introduced gradually as a good amount of investment makes its way to enabling a more optimistic scenario’s achievement in the niche of railways. It would even pave the way for new housing opportunities.
Business groups welcomed the plans with Dr. Adam Marshall who is the director general of the British Chambers of Commerce.
He mentioned that the firms had agreed that the public and private sector are required to work together to offer better and more dependable rail services now and also into the future.
Mike Cherry, national chairman at the Federation of Small Businesses mentioned that a well-maintained infrastructure is essential for small businesses and the economy as a whole.
Promised investment from the public and private sectors would help boost businesses and also the various communities all across the country.