The Railway Heritage Committee exists to designate railway records and artefacts held by specified bodies within the rail industry which are historically significant and worthy of permanent preservation. It also agrees which institution should hold those records and artefacts when they are no longer needed by the business that owns them and the terms on which they should be offered for preservation.
The Committee meets at regular intervals to consider the case for designation of particular items but is not itself responsible for any preservation projects. Its costs are met by the Department for Transport. Its annual budget for 2008-09 is £120,000.