Rail industry lacks vision of how to handle future, says regulator
The rail industry “lacks a clear vision” of how it will meet future challenges, a rail regulation chief has said.
Those involved in the railways needed to offer a cheaper service, become closer to the needs of customers and quicker to respond to changing needs, added Chris Bolt, the chairman of the Office of Rail Regulation added.
Network Rail (NR) needed to be prepared to change to enable improvements in services to go ahead against a backdrop of a possible doubling in customer demand over the next 30 years, he said. Mr Bolt was speaking at a rail conference in London organised by the Institute of Economic Affairs.
He said: “Greater efficiency by the industry particularly by NR will enable investment in more capacity, better reliability and continued improvement in safety. It is a big challenge to NR and the company will need to be prepared to change to deliver it, but we believe it is achievable.”
Mr Bolt went on:“At present, the industry lacks a clear vision of how it will meet that challenge. It does not have in place longer-term plans to transform the railways to meet increasing demand and service expectations. It needs to start to address this now, working in partnership.
“For our part, as the safety and economic regulator of Britain’s railways, we will be reviewing how we can better contribute to the necessary transformation, and publishing our own strategy later this year.”
Speaking at the conference yesterday, shadow transport secretary Theresa Villiers said: “There is a pressing need to incentivise private sector investment in our railways. We will help deliver this through longer franchises, better quality franchises and less Government micromanagement.
“It is absurd for the Government to have tendered the South Central franchise for five years and 10 months when rolling stock and other railway assets can have a lifetime of 30 years or more. A Conservative Government would make 15 to 20-year franchises the norm and not the exception.”
