Following the publication of the Periodic Review of Railtrack's Access Charges by the Office of the Rail Regulator (ORR) today, Railtrack said there was a clearer alignment of the framework now emerging between the industry, Government and the Regulator around the agenda of the bigger, better railway.

'However, the proposals are extremely challenging' said Gerald Corbett, Railtrack Chief Executive.'They assume a 4.2% per annum efficiency, which is effectively 20% off the cost base in the next five years. This sits uncomfortably against the background of the Ladbroke Grove Inquiry, the industry's huge safety programme, the growth we are experiencing, the requirement for better train performance and the host of other improvements that we and the travelling public require.

'However, it is two massive documents and we have a lot of work to do studying the details and assessing what we can deliver and whether we can finance ourselves. We will work collaboratively with the Regulator and other parties to secure the right result for the industry. We all want a bigger, better railway' he said.

For more information please call the Railtrack press office on 020 7557 8292/3.
All recent press releases can be found on the Railtrack web site at the following address: http://www.railtrack.co.uk/corporate/notice

Railnews Archive ::: 2000-07-27 RTK-002