UK's Network Rail to get up to £48 billion and major upgrade cash
It says will allow the infrastructure operator to spend nearly £48bn once its expected income is included.
The Department for Transport (DfT) said a new focus on everyday services - with more maintenance and ‘a huge uplift in renewals’ - will see billions more invested in renewing existing infrastructure to improve punctuality and reliability.
The DfT’s Statement of Funds Available (SOFA) for Network Rail sets out a direct grant of up to £34.7bn for Control Period 6 (2019 to 2024).
It said total spending will be around £47.9bn once Network Rail’s expected income is calculated and added to the pot.
This compares with Network Rail’s five-year budget to 2019 of £38.5bn, which Transport Network understands included Network Rail's income. ■