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16/07/2012
£9bn Railway Investment Announced
The government has unveiled a £9.4bn package of investment in the railways in England and Wales, including £4.2bn of new schemes.
The plans include electrification of the Midland Main Line between Bedford and Sheffield and improvements for the Manchester area, south Wales and East Coast Main Line.
Prime Minister David Cameron called it the "biggest modernisation of our railways since the Victorian era".
"In what is the biggest modernisation of our railways since the Victorian era, this investment will mean faster journeys, more seats, better access to stations, greater freight links and a truly world-class rail network," Mr Cameron said.
Building work on the rail projects will not start until at least 2014, as the announcement covers the period 2014 to 2019.
The government said it would be funded "in part from fare rises already announced in 2010 and also from the substantial efficiency savings which projects like electrification will have on the long-term operating costs of the railways".
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The plans include electrification of the Midland Main Line between Bedford and Sheffield and improvements for the Manchester area, south Wales and East Coast Main Line.
Prime Minister David Cameron called it the "biggest modernisation of our railways since the Victorian era".
"In what is the biggest modernisation of our railways since the Victorian era, this investment will mean faster journeys, more seats, better access to stations, greater freight links and a truly world-class rail network," Mr Cameron said.
Building work on the rail projects will not start until at least 2014, as the announcement covers the period 2014 to 2019.
The government said it would be funded "in part from fare rises already announced in 2010 and also from the substantial efficiency savings which projects like electrification will have on the long-term operating costs of the railways".
(H)
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