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In its latest report, Driving Investment in Rail Infrastructure, High Speed Rail Group (HSRG) emphasises the critical role private sector funding can play in transforming the UK’s rail network.
“As longstanding advocates of innovative partnerships in infrastructure, Amey welcomes the opportunity to contribute to a long-term strategy that ensures timely, cost-effective, and sustainable rail solutions that are essential to delivering robust rail systems that will connect communities and drive economic growth for future generations,” the company says.
As the acute need for investment into rail has grown, recent decisions to roll back on major rail infrastructure projects, coupled with shrinking public finances, have posed significant challenges to funding infrastructure development.
The report stresses that engaging with the private sector will not only provide the vital finance required for infrastructure development to go ahead, but it will also create the right environment for the industry to deliver infrastructure on time and within budget, with potential for future cost reductions.
Drawing on international and cross industry case studies, this report demonstrates a strong appetite among industry and investors alike for private investment and future collaboration on large scale infrastructure projects. However, the Government must create an investment-friendly ecosystem that provides the stability investors and industry seek and need. This means committing to a strong pipeline, ensuring close collaboration between all stakeholders and providing transparent, structured policy frameworks that focus on long term decision making.
The High Speed Rail Group therefore calls on the government to act on the following:
Develop and stick to a comprehensive long-term strategy for both North-South and East-West travel, prioritising the link from Birmingham to the North West, and the route across the north of England from Liverpool to Hull. Providing clarity, transparency, and consistency in decision-making is key.
Engage with the infrastructure investment community to explore all funding options. It does not have to be an ‘all-or-nothing’ approach, with some assets, such as rolling stock and stations, lending themselves more easily to private finance than others.
Adopt a whole systems approach to rail infrastructure, looking at planning, funding, and delivery from a whole country perspective.
“We are excited to support the launch of this significant report by High Speed Rail Group, and to contribute to a vision that so strongly aligns with Amey’s commitment to deliver sustainable, cost-effective, infrastructure solutions to the UK’s rail industry. By working collaboratively with the public and private sectors, Amey shares in the belief we can deliver vital infrastructure projects that enhance connectivity, drive economic growth, and meet the needs of future generations,” James Holmes, Sector Director for Amey, said.
“Labour has a mission to secure the highest sustained growth in the G7, which they recognise will need private investor support to achieve. Developing and committing to significant rail infrastructure projects, underpinned by private capital, is a crucial step to realising this goal. To date, short-term policy changes and inconsistent project implementation have undermined investor confidence, leading to a fragmented infrastructure landscape that is timely and costly. It is promising to hear that HS2 will likely reach Euston. However, we need definitive answers and a long-term rail strategy that extends north of Birmingham to Crewe and beyond. This strategy must also look beyond the short-term costs to HM Treasury, focusing on the lasting and cumulative benefits rail investment can deliver to the UK. If correctly capitalised upon, rail investment will not only drive growth across local economies, foster skills development, and enhance regional connectivity, it will also ensure the UK delivers on the Chancellor’s “national mission” to boost growth. We urge Government to seriously consider and take forward this report’s recommendations, implementing them for future inter-city rail projects,” says. Dyan Perry, Chair of HSRG. |
