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UK's Network Rail to get up to £48 billion and major upgrade cash

Staff Writer |
The UK government has announced a direct grant to Network Rail of up to £34.7bn between 2019 and 2024.

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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.

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