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Railways: Rolling Stock

Volume 703: debated on Tuesday 22 July 2008

asked Her Majesty's Government:

Further to the Written Answer by Lord Bassam of Brighton on 10 July (WA 100), and in the light of growing rail traffic, what steps they will take to remove the barriers to financial approval of the procurement of new rolling stock faced by train operating companies as a result of the length of most railway franchises. [HL5031]

The Department for Transport continues to work with train operators to procure additional vehicles to deliver the additional high level output specification capacity. More than 5,000 vehicles have been delivered into service in the past 12 years. The train operator enters into an operating lease with the financier for the period of its franchise, and this has not proved to be a barrier to funding of rail vehicles, as the financier takes the longer-term view.