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Up to a third of the 4% average annual increase in rail journeys since the mid 1990s has come from the changes to the industry model; combined with growth in freight, this was worth as much as £7.2bn to the UK economy in 2013, according to Oxera.
The railway and its supply chain return £3.9bn in tax to the Exchequer a year, offsetting nearly all of the £4bn that rail receives in government funding.
Passenger rail services performed with markedly more resilience during the most recent economic downturn than in previous recessions with journeys increasing by 5% while the economy shrunk by around 6%. In previous recessions rail journeys dipped further than GDP or effectively stopped growing.
