Category Archives: Crossrail

Old Oak Common development “the biggest con-trick in the book”  says former transport minister

The Old Oak Common development is a con-trick that will fail to deliver on homes and jobs and will end up costing the taxpayer over £1bn says ex Tory transport minister Steven Norris. His comments were made at Landor’s 16th Rail Stations & Property Summit conference . Continue reading Old Oak Common development “the biggest con-trick in the book” says former transport minister

Train companies pay back record premiums but Network Rail grant is also up

Franchised train operating companies contributed a record £802.2m in 2014-15 (2013-14: £40.1m) according to ORR’s latest annual statistical release. This sum is the difference between the £1,529m paid out in premiums by the TOCs and the £727m they get in subsidies. It’s the fifth consecutive year that premiums have exceeded subsidy payments. Continue reading Train companies pay back record premiums but Network Rail grant is also up

Crossrail expenditure inflates state expenditure on rail

Government support for the rail industry increased £227m to £5.287bn in 2013-14, the highest level since 2007-08, according to the latest ORR statistical release. However, the figure is inflated by Crossrail expenditure, which accounted for £1.1bn. The direct rail grant to Network Rail actually fell £327m to £3.453bn, making it the lowest payment since 2005-06. Net payments from franchised passenger train operators dropped to £40m from £420m in 2012-13, and the PTE grant increased £18m to £182m. Continue reading Crossrail expenditure inflates state expenditure on rail