The Rail Industry Association (RIA) has responded to responded Kwasi Kwarteng’s mini-budget, announced on Friday.
RIA Chief Executive Darren Caplan has said: “There are certainly some measures in this package which RIA members will welcome, particularly the list of rail infrastructure projects which the Government says it will accelerate – we eagerly await the publication of new legislation designed to get spades in the ground more rapidly. Investment zones will benefit some of our members too.
“The Government needs to go further, however, in providing the certainty our members need to deliver transformational projects, whether major schemes such as HS2 and East West Rail, which need to be built in full if the full benefits are to be realised, or rail enhancements. Whilst some enhancement projects were mentioned in the Chancellor’s statement, the progress of many other rail enhancement schemes still remain unknown because the Rail Network Enhancement Pipeline still hasn’t been updated, almost three years after the first announcement.
“Recently RIA published six asks of the Government, now that a new Prime Minister and transport ministers are in place, seeking certainty of work pipelines, commitment to delivering major projects, no work hiatus whilst rail restructures, support to decarbonise and digitalise rail, and to do more to help investment in R&D and innovation. Today was a start, but we again urge the Government to action the asks of RIA and our members, to benefit not just the railway industry, but to all those who use the network and want to see it doing even more to connect the country’s communities and help power the UK economy.”
The wider response to Mr Kwarteng’s radical budget has been mixed and the value of the pound dropped before trading closed for the weekend. However, it has gained back some ground since trading reopened this morning.
Image credit: RIA
