To ask Her Majesty's Government whether they have considered an alternative to the ALARP (As Low As Reasonably Priced) system for assessing the costs of railway safety enhancements. [HL5422]

The Office of Rail Regulation, as the independent safety and economic regulator of UK railways, completed a review and issued revised internal guidance on the use of cost benefit analysis in support of decisions to reduce risks “so far as is reasonably practicable” on Britain's railways in March 2008, which included a consultation with stakeholders.

The Office of Rail Regulation review concluded that the costs of railway safety enhancements should include the costs of financing to reflect the public or private sector cost of capital, depending on the funder of the scheme. This guidance and supporting consultation documents are available from the Office of Rail Regulation's website - see:

http://www.rail-reg.gov.uk/server/show/nav.1118.