§ Mr. Don FosterTo ask the Secretary of State for Transport, Local Government and the Regions what recent research his Department has(a) conducted, (b) commissioned and (c) made reference to with regard to the future financial viability of train operating companies. [21047]
§ Mr. JamiesonMy Department conducted a study of the financial needs of all parts of the railway industry to inform the development of the 10 Year Plan and the last Spending Review. Two recent research studies were commissioned by the Department to assess Eurostar's passenger number and revenue forecasts and Freightliner's application for Track Access Grant. The Department has had regard to advice from the Strategic Rail Authority which receives monthly financial reports from train operating companies and monitors the financial position of their parent companies on a regular basis. When awarding new franchises the SRA makes assessments of bidders' financial standing.