Regulator welcomes Sir Roy McNulty's Rail Value for Money Study

19 May 2011

Anna Walker, Chair of the Office of Rail Regulation:

As co-sponsor of Sir Roy McNulty's study we welcome and strongly endorse his findings. Today's report has brought into sharp focus the value for money challenge facing the whole rail industry and the size of the prize it must deliver for taxpayers and passengers.
One of the keys to unlocking this prize is to strengthen the incentives on all the players to work collaboratively to improve services for customers and reduce costs. This includes clarifying the boundary between government and the industry which has become blurred in the current structure.
It is vital that all industry players grasp this opportunity and quickly set out how they are going to rise to the challenge. For our part, we relish the opportunity to demonstrate how strong, independent regulation can help the whole rail industry to deliver the step change required. In doing so, we will build on our track record of ensuring the delivery of improved efficiency and performance by Network Rail.
Later this month we launch the next price control review. This process will lead to a delivery plan for our railways through to the end of this decade. We will continue to urge and incentivise leaders across the rail industry to seize the early opportunity this presents to set out how, together, they will deliver a successful railway for passengers and taxpayers at a significantly lower cost.

Please view Sir Roy McNulty's Value for Money Study in full.