RIA’s Darren Caplan responds to the Chancellor’s spending review

While this brings opportunities for network upgrades and new stations, some rail industry bodies may still push for a more consistent and predictable long-term funding framework to support ambitious decarbonisation and growth targets.

Commenting on the Spending Review announced by Chancellor Rachel Reeves, Railway Industry Association (RIA) Chief Executive Darren Caplan said:

“The Railway Industry Association welcomes the support Chancellor Rachel Reeves announced for UK rail in the Spending Review, and the recognition that the railways are key to delivering economic growth.

“This support includes the next phases of the Transpennine Route Upgrade, East West Rail, and Northern Powerhouse Rail, as well as new funding for the Midlands Rail Hub and for Welsh rail infrastructure.

“The Treasury’s plans to reassess the Treasury’s Green Book investment framework should also be applauded, as social, environmental and regional value are all central to what rail delivers.

“This Spending Review follows the announcement last week of £15 billion of funding for local transport in city regions, including metro and tram networks, whether the Midlands, Sheffield, Greater Manchester, Yorkshire, Tees Valley, Newcastle, or West of England. Rail businesses from every part of the UK will want to be involved with delivering those schemes, as the Government and devolved bodies take them forward.

“Finally, we also welcome the Chancellor’s focus on skills and training as well as her ambition to leverage private investment into transport to help alleviate capacity and connectivity constraints. We look forward to more details on how this will be delivered, when the Government’s Infrastructure and Industrial strategies are published later in June.”