Rail Industry to Benefit from £92.8 Billion Investment

The government has given the green light for over 50 road and rail upgrades, which are set to benefit millions. People will not only gain access to faster journeys but also better access to jobs and housing, as well as boosting the economy. The government released last month's spending review, which highlighted some of the investments they have planned for the rail industry.

A GBP92.8 billion investment into infrastructure will see GBP10.2 billion invested into rail enhancements and improving connectivity, especially in areas with infrequent and unreliable services. Included in this is a project reinstating passenger services between Bristol city centre and Portishead, which hasn't run in the last 60 years. This project will see three new stations to improve the connections on this section of the line.

They will be investing 27 million to carry this out and will see new hourly services and support a large-scale housing development. The government have confirmed funding for England and Wales, outside of London and the South East, which will help bring other parts of the country's rail system up to speed.

Map of Road and Rail Investment Schemes Across the UK // Credit: Department for Transport

New stations at Wellington and Cullompton have also been given the go-ahead, which will allow more people to visit Exeter. Another station will also be added at Haxby, which plans to bring 20,000 people to the railway and improve access to Leeds and York.

A huge improvement, which has been backed by numerous MPs[1], is the Midlands Rail Hub, which is set to improve the Midlands greatly. The ambitious project, thanks to significant funding[2], will not only see 13,000 jobs created[3] but will also provide over 7 million people with 20 million extra seats. Services will be quicker and greener, and provide new rail links for over 50 locations.

The East Coast Main Line will continue to benefit from an increased capacity for upgraded digital signalling, which will create a further 4,800 jobs.

"Roads and railways are the backbone of our economy, which is why we are giving them the record funding boost they need, putting taxpayer's money where it matters most and making every day journeys easier.

"With over GBP92 billion investment, including the biggest ever boost for city regions in the north and Midlands, we're delivering the schemes that fast-track economic growth and jobs, connect communities, and will help us build 1.5 million new homes, as we deliver our Plan for Change.   

"We're forging ahead with the vital new transport infrastructure Britain needs, and improving what we've already got, to deliver a new era of renewal and opportunity."

Transport Secretary Heidi Alexander

References

1. ^ numerous MPs (www.railadvent.co.uk)
2. ^ significant funding (www.railadvent.co.uk)
3. ^ 13,000 jobs created (www.railadvent.co.uk)