STORY
The Government has set a target to increase the amount of freight transported by rail by at least 40 per cent by 2040. Great British Railways will be given responsibility for pursuing the target, which Ministers describe as an initial milestone towards increasing rail freight by at least 75 per cent by 2050.
Rail freight currently carries goods valued at almost £34 billion each year, according to the Department for Transport. The Government estimates that meeting the new target could add approximately £15 billion to the annual value of goods moved by train and save as much as one million tonnes of carbon dioxide each year when compared with transporting the same freight by road.
The Railways Bill, which would establish Great British Railways, has entered its committee stage in the House of Lords. The organisation would receive duties relating to freight growth and strategic oversight of access to the rail network, while one member of its board would be made responsible for freight. No accompanying programme of new infrastructure expenditure was announced, meaning delivery will depend upon available network capacity, private investment and future Government spending decisions.