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Network Rail: Finance

Question for Department for Transport

UIN 120953, tabled on 25 November 2020

To ask the Secretary of State for Transport, with reference to the Spending Review 2020, what revised estimate he has for the (a) total £10.4 billion rail enhancements budget and (b) total £30.9billion operations, maintenance and renewals budget within Network Rail’s Control Period 6.

Answered on

30 November 2020

Network Rail’s operations, maintenance and renewals budgets have not been changed as a result of Spending Review 2020 and workbanks will continue to be based on the five-year regulatory funding settlement for 2019-2024. The Spending Review settlement means that the comparable figure for the enhancements budget over the same period would now be £9.4bn. As part of SR2020 over £2 billion of funding has been confirmed in 2021-22 for rail services and builds on the estimated £12.8 billion of support for transport services that the government has already committed to provide in 2020-21

The Spending Review Settlement includes over £58 billion of investment confirmed for road and rail transport between 2021-22 and 2024-25, delivering some of government’s largest capital portfolios and levelling up across the country. This includes record investment in strategic roads and rail.

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