Content archived on 22 November 2024
Our long-term regulatory statement – 'Opportunities and Challenges for the Railway' – discusses how our regulation may develop in line with the changing shape of the industry, and identifies priorities for the growth and sustainability of Britain's railways.
Railways have been a major success story for the past decade. Passenger demand is at the highest ever and freight numbers are growing. This presents huge opportunities and challenges for us across the industry. These issues need to be discussed if our railways are to remain financially sustainable in the long term.
Our focus is on efficiency, creating incentives to encourage better industry wide collaboration, raising standards for customers and ensuring value for money for taxpayers and funders. Big decisions about investment and services will continue to be taken by government, but as the independent regulator we want to stimulate debate to ensure that stakeholders from right across the spectrum are involved in shaping our railways of the future.
What is certain is that Britain's railway will, in just a few years' time, look quite different to the railway that we have today. Governments and other funders have shown great confidence in rail and continue to invest tens of billions of pounds enhancing the mainline network. This investment will change the shape of the railway considerably, and our statement explores some of the effects of this transformation.