GIIA has added its voice to a coalition of the UK business and rail industry calling on the UK government to ensure the Railways Bill establishes safeguards to help maintain investment certainty, attract future private funding and support the Government’s growth agenda.
A joint letter – led by the Railway Industry Association (RIA) in the UK – makes the case for Great British Railways to be established to attract additional investment from third-party partners to support an effective and resilient transport system that underpins economic growth.
Jon Phillips, Chief Executive of GIIA, said:
“The private sector is ready to invest in helping to build a modern, reliable rail network that UK passengers and businesses can count on. However, as currently drafted, the Railway Bill permits potential mid-period changes to funding agreements, as well as legislative amendments that may affect rail-adjacent assets such as depots, logistics facilities, and trackside substations.
“These measures risk sending the wrong signal to investors seeking to commit long-term capital. The UK Government has already confirmed its openness for Great British Railways (GBR) to work in partnership with the private sector. And with the right targeted amendments to the Railway Bill, it can now give investors the confidence to do so – unlocking the private capital needed to help meet its growth goals.”
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