Click here to listen to the latest rail news on Tuesday, 1st June 2021
The latest rail news on Tuesday, 1st June 2021
An agreement has been reached with the Government today which extends its financial support to Transport for London (TfL) to 11 December 2021.
London’s Transport Commissioner Andy Byford said: “Today’s funding agreement with the Government provides £1.08 billion in base funding and further support should passenger revenue income be lower than forecast until 11 December 2021 to enable us to continue to run near full levels of service to stimulate London’s recovery and deliver a host of improvements like the Elizabeth line, Northern line extension and expansion of London Overground.
“The conditions placed on us by the Government agreement and the amount of funding we will receive means we need to find a further £900 million of savings or new income this year compared to our approved Budget and on top of the £730 million of savings already assumed in our Business Plan.”
Today, regional transport body Midlands Connect has released a feasibility study that outlines nearly £500 million of benefits to the economy if the route is upgraded. Midlands Connect is proposing rail electrification, faster local trains and a new hourly train to London from Shrewsbury.
Analysis by Midlands Connect, released as part of the study, shows that time savings to passengers are valued up to £377 million and the benefits of fewer cars on our roads and other environmental benefits are worth up to £145 million.
The report released today is entitled ‘Rails to Recovery: Building Back Stronger’.
Leading rail infrastructure engineering services provider, QTS Group Ltd has completed the acquisition of Uddingston based rail electrification experts, Rail Electrification Limited.
The acquisition, which will see REL operate as a wholly owned subsidiary of QTS, brings the company into the Renew Holdings plc family of businesses, which QTS joined in 2018.
Finally, issue number one of InsideTrack, the new rail industry magazine that looks at the sector in depth and detail, is on its way to expectant readers.
InsideTrack will inform readers about what the railway is up to and how it works with itself.
Published every other month, separate issues will examine topics such as building Britain’s railways, enhancing and maintaining them, their operation and governance and, of course, safety.
Photo credit: Midlands Connect
