The rail industry today set out a plan to deliver government priorities for rail and respond to the challenge to provide a better value railway for Britain and help drive economic growth.

Responding to governments' plans for the 2014-19 funding period, published in July 2012, the industry’s strategic business plan marks the culmination of a period of extensive cross-industry working to set out a long-term vision for rail in Britain.

The plan includes a programme of investment which will fund critical new infrastructure required to increase the capacity, capability and cost-effectiveness of Britain’s railway in the face of increasing growth in passenger and freight.

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Paul Plummer, group strategy director, Network Rail, said: "Britain's railways are booming, with more people and businesses choosing rail than ever before and passenger satisfaction at record levels. As a business and as an industry we are better placed than ever before to understand what needs to be done to build on this success and create a better railway which meets the needs of customers in a sustainable way."

Michael Roberts, chief executive of the Association of Train Operating Companies (ATOC), said: "We aim to build on today’s near record levels of customer satisfaction by combining the best of the public and private sectors to provide newer trains, quicker journeys and more seats. Early clarity from Government on the franchising and regulatory framework for rail will be vital in allowing train companies, Network Rail and our suppliers to deliver the best possible deal for passengers and taxpayers."

(CD/GK)