Skip to main content

Network Rail: Finance

Question for Department for Transport

UIN 30250, tabled on 8 March 2016

To ask the Secretary of State for Transport, with reference to page 35 of Network Rail Infrastructure Ltd's Regulatory Financial Statements for the year ended 31 March 2015, what cash funding his Department has committed to the (a) Reading Station redevelopment and (b) Great Western Electrification Programme in order to reduce the amount being added to Network Rail's Regulatory Asset Base; and for what reasons that policy has been adopted.

Answered on

11 March 2016

This transaction relates to funding commitments announced by the Government in Autumn 2014. These decisions were taken in order to make the most effective use of the department's resources in financial year 2014/15 and progress delivery for passengers.

In accordance with Clause 2.4 of the Facility Agreement, the department provided Network Rail with a £155 million grant in exchange for a £125 million reduction in the Available Commitment of the Facility and £30.5 million worth of work to be brought forward into Control Period 5 - the time period covered by the Facility Agreement.

Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.