Budget set for Network Rail safety
Network Rail has been given approval to spend £250m on track worker safety over the next five years.
This figure was published in The Office of Rail Regulation (ORR) periodic review for 2013, which sets out the spending plans for Network Rail for 2014-19.
The review shows that Network Rail will receive more than £21bn over the five years for day-to-day running, but will be charged with cutting costs by 20 per cent over the same period.
Maintenance investment levels have been protected at £5bn and the ORR said savings “will not come at the expense of safety”.
The regulator added: “There will be about £250m to help improve safety of track workers, to be invested in new equipment and safer working practices. ORR has also approved an extra £571m to upgrade structures such as bridges and tunnels.”
Network Rail said that the ORR has recognised the significant improvements the industry has made in the last decade on safety, as well as train performance, affordability and value for money.
The ORR has also approved more than £12bn worth of enhancements to Britain’s rail network, but £7bn of these schemes do not yet have clear delivery plans or costs. The regulator is giving Network Rail until March 2015 to work up efficient plans for these enhancements before the funds are approved.
Chief executive of ORR, Richard Price, said: “Network Rail has made great strides in improving safety, performance and efficiency on Britain’s railways.”
In its Strategic Business Plan, Network Rail asked for £37.5bn of expenditure; in the final determination the ORR has assumed a total of £35.5bn. Network Rail has until 7 February 2014 to decide whether to accept the final determination or appeal through the Competition Commission.
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Budget set for Network Rail safety
Network Rail has been given approval to spend £250m on track worker safety over the next five years.
Safety & Health Practitioner
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