This article reviews a recent report by UK economic research company Business Studies on the revival of British railways. The report predicts that the railway renaissance will benefit the UK economy by over #40,000M in the next ten years. The report's authors claim that it is the most comprehensive impact assessment of rail ever made, but train operators say that its figures are far too low. They consider that refurbishment and expansion of the rail network will create at least 150,000 jobs a year for the next ten years. The extra jobs would be throughout the economy, but the construction industry would benefit most from increased spending on railway tracks. Capital investment in rail during the decade would average nearly #4000M a year. New rail investment will have most effect in South East England, with the Channel Tunnel Rail Link, for example, and will help to relieve congestion in the longer term. During the last six years, the rapid growth of London's economy has depended on rail, and 85% of commuters to central London travel by train. The report states that teleworking and other new business methods will not reduce the demand for rail. It also predicts that annual spending by train operating companies (TOCs) will rise from #19,000M to #25,000M, but some TOCs consider this figure much too low.

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    PO BOX 77
    HORSHAM, WEST SUSSEX  United Kingdom  RH13 5QH
  • Authors:
    • Clifton, P
  • Publication Date: 2000-7


  • English

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  • Accession Number: 00799679
  • Record Type: Publication
  • Source Agency: Transport Research Laboratory
  • Files: ITRD
  • Created Date: Oct 6 2000 12:00AM