§ Judy MallaberTo ask the Secretary of State for Transport, Local Government and the Regions what his estimate is of the total level of investment and public support to be made in the railways over the next 10 years. [31445]
§ Mr. ByersWe estimate that the total level of public and private investment and public support in the railways over the 10 years to 31 March 2011 will be £64.9 billion.
The Government have committed to provide £33.5 billion of funding to the rail industry over this period, consisting of both public investment and revenue support (including direct revenue support for private investment). This represents an increase of £4.5 billion from the £29 billion total in the July 2000 10-Year Plan for Transport. Government funding will work in partnership with an estimated private investment of £34.3 billion to help deliver our 10-Year Plan objectives for rail.
As was made clear at the time of the 10-Year Plan, the £60.4 billion total investment and public support for rail, both public and private, is net of an adjustment to exclude 178W direct revenue support for private investment. Table A2 in the 10-Year Plan makes it clear that this is necessary to avoid double counting. The revised total of £64.9 billion, consisting of the original 10-Year Plan total plus the additional £4.5 billion of Government funding announced since then, is net of the same adjustment.