ORR calls on Network Rail to spend £1bn on safety and quality initiatives
The rail regulator has called on Network Rail to invest an extra £1bn on replacing “worn out” rolling stock, including £80m in spending on safety expenditure and worker safety initiatives.
The ORR said railway performance has “failed many passengers” in recent months, arguing that strong planning is central to improving performance. The regulator claims it has identified greater scope for Network Rail to boost reliability and safety, emphasising the demand for greater funding.
Amongst the recommendations from the regulator are to reallocate £0.9bn of the current £1.7bn England and Wales funding, currently held centrally to manage financial risks, to Network Rail’s routes so they can develop cash spending plans, and the creation of a £10m performance innovation fund to support testing and implementing new ideas across the country. ORR calls on Network Rail to spend £1bn on safety and quality initiatives