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| Network Rail unveils £37.5bn investment plan | Network Rail unveils £37.5bn investment plan |
| (about 1 hour later) | |
| A £37.5bn plan to develop the UK's railway infrastructure over five years has been announced by Network Rail. | |
| The plan, covering the five years up to 2019, promises faster journeys, 170,000 more peak-time commuter seats and improved reliability, but depends on making savings and rising fares. | The plan, covering the five years up to 2019, promises faster journeys, 170,000 more peak-time commuter seats and improved reliability, but depends on making savings and rising fares. |
| Consumer group Passenger Focus welcomed investment but said it was important to keep travel costs "under control". | Consumer group Passenger Focus welcomed investment but said it was important to keep travel costs "under control". |
| Network Rail said it needed to invest now to create a more resilient railway. | |
| Its strategy includes spending £600m protecting tracks and bridges against floods and heat waves and adding 1,000 miles of new electrified lines, which would mean faster and more reliable trains. | Its strategy includes spending £600m protecting tracks and bridges against floods and heat waves and adding 1,000 miles of new electrified lines, which would mean faster and more reliable trains. |
| Some £5bn will be spent on the western network from London to Swansea, which will be electrified and have signalling replaced, while congested areas like Reading and around Manchester will also be improved. | |
| However, the plans will be affordable only if Network Rail manages to make these savings. It also assumes fares will keep rising by more than inflation every year to help pay for it. | |
| Resilient railway | Resilient railway |
| BBC transport correspondent Richard Westcott said that could mean at least six more years of big price rises, on top of the 10 years passengers have already experienced. | BBC transport correspondent Richard Westcott said that could mean at least six more years of big price rises, on top of the 10 years passengers have already experienced. |
| Network Rail chief executive David Higgins told BBC Radio 4's Today programme: "We have an amazing railway which is performing out of its socks, but it is still an old, Victorian railway which costs money to maintain because it is old and at a very, very high level of capacity, so getting access to the railway is really difficult. | Network Rail chief executive David Higgins told BBC Radio 4's Today programme: "We have an amazing railway which is performing out of its socks, but it is still an old, Victorian railway which costs money to maintain because it is old and at a very, very high level of capacity, so getting access to the railway is really difficult. |
| "But we have made huge progress. The costs of maintaining and operating the railway in the 10-year period to 2014 have come down by 50%. We have to invest to save. We have to spend now to increase capacity, create a more resilient railway." | "But we have made huge progress. The costs of maintaining and operating the railway in the 10-year period to 2014 have come down by 50%. We have to invest to save. We have to spend now to increase capacity, create a more resilient railway." |
| Anthony Smith, of consumer group Passenger Focus, said passengers would be pleased to see Network Rail and the train companies "planning together to keep investing to meet key passenger priorities as shown by Passenger Focus research". | Anthony Smith, of consumer group Passenger Focus, said passengers would be pleased to see Network Rail and the train companies "planning together to keep investing to meet key passenger priorities as shown by Passenger Focus research". |
| He said providing extra seats to tackle overcrowding and contin uing to get more trains on time was "welcome". | |
| However, he added: "The plans assume fares will continue to increase above the rate of inflation, which will be a concern to passengers who have already faced 10 years of ticket prices rising faster than the cost of living. | |
| "Getting costs under control is also a key industry priority to help keep the lid on future rises." | "Getting costs under control is also a key industry priority to help keep the lid on future rises." |
| Michael Roberts, chief executive of the Association of Train Operating Companies, said: "We aim to build on today's near record levels of customer satisfaction by combining the best of the public and private sectors to provide newer trains, quicker journeys and more seats. | |
| "Early clarity from government on the franchising and regulatory framework for rail will be vital in allowing train companies, Network Rail and our suppliers to deliver the best possible deal for passengers and taxpayers." | |
| Network Rail's business plan was unveiled just days after rail fares for season ticket holders in England, Wales and Scotland rose by an average of 4.2% as the annual price hike, announced in August, came into effect. | Network Rail's business plan was unveiled just days after rail fares for season ticket holders in England, Wales and Scotland rose by an average of 4.2% as the annual price hike, announced in August, came into effect. |
| Overall, ticket prices increased by 3.9%, although rises varied between train operators. | Overall, ticket prices increased by 3.9%, although rises varied between train operators. |
| It prompted the TUC to claim that average train fares had risen nearly three times faster than average incomes since 2008. | It prompted the TUC to claim that average train fares had risen nearly three times faster than average incomes since 2008. |