Infrastructure
‘A key theme in the paper is the benefit to customers of implementing so-called “smart ticketing”’
From page 21... Once in a generation projects, such as HS2, also provide an opportunity to encourage rebalancing on both an economic and regional scale. The City is often championed as the economy within the economy, or an engine at the heart of the nation. Whether either of those is true, it is a fact that the majority of international traffic flows through London, and it is only right that the importance of this essential artery has been recognised by massive investment in schemes such as Crossrail and Thameslink. If the UK’s economy begins to move away from a finance- based focus, however, more and more business will need to be done outside the capital. An increased level of manufacturing will require an increased level of connectivity within the UK.
Commanding a low price ‘I believe that government and the rail industry can and must do more for the passenger and the taxpayer. So we will,’ says a punchy statement of intent from the opening paragraphs of government’s March command paper Reforming our Railways: Putting the Customer First. Supplementary to the command paper, the High Level
Output Specification (HLOS), just out, and the Statement of Funds Available (Sofa), will set out government’s plans in more detail. The HLOS will set out the goals for the next Control Period (2014-2019). The Sofa will set out the money available to achieve them.
The command paper sets out four objectives: • Securing value for the passenger;
• Dealing with the fiscal deficit, acknowledged in the paper to be government’s primary overriding priority at the present time; • Supporting economic growth; and • Delivering the UK’s environmental goals.
Although the Sofa will set out details of the funding available, the government took the opportunity in the command paper to state some headline funding allocations, including:
• Additional capacity into cities at peak times; • A more cost-efficient, lower carbon railway; and • More reliable journeys and a better passenger experience.
The DfT, backed by the rail value for money study, believes that franchise reform must include measures, ‘to give train operators more commercial flexibility while continuing to protect the interests of fare payers’. The command paper outlines some additional detail on how this worthy objective might be achieved, but it seems only time will tell how it will be implemented in practice.
Efficiency It seems, however, from the paper that the biggest shake- up might be foreshadowed at Network Rail, with stated requirements in the paper for strong incentives for Network Rail to ensure it delivers value for money on its funding and that Network Rail’s direct customers – the freight and passenger train operators – should be able to hold it to account for its performance. In terms of the interests of passengers, a key theme in the paper is the benefit to customers of implementing so-called ‘smart ticketing’. Side by side with the command paper, the government also released a Rail Fares and Ticketing Review, which continues on this theme in greater detail. For UK rail, as with the rest of the nation’s industries, the dreaded accountant’s pencil is on the loose. As the Command Paper puts it in the opening paragraph – ‘How do we improve and expand our rail network when money is tight?’ How indeed! Watch the boards for changes to upcoming services.
Paul Morgan and Robert Meakin are solicitors at Clyde & Co LLP Visit:
www.clydeco.com
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AUGUST 2012 PAGE 23
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