As the joint safety and economic regulator for Britain’s railway, we are reviewing how costs and benefits are assessed for safety initiatives, and whether reasonable practicability is systematically tested by duty holders.
Earlier this year, we initiated a programme of work to review how the costs and benefits of safety interventions are assessed by duty holders (including Network Rail and train and freight operators).
As the joint safety and economic regulator for Britain’s railway, we want to confirm how and when cost estimates are compiled for these purposes, and whether reasonable practicability is systematically tested. This is important to ensure that the railway is delivering value for money at a time of rising costs and high levels of taxpayer subsidy.
The UK rail industry has one of the best health and safety records in the world and we recognise that this reflects sustained focus in health and safety interventions. By working closely with duty holders and other rail industry parties, our aim is to identify learning points for the industry to deliver best practice in assessing the costs and benefits of safety interventions.
We intend to issue a report on our findings and recommendations in January 2025.