Rail Partners represent both independent passenger and freight operating companies and have released a new report titled which provides steps that the Government can take in order to increase growth both now and in the future.

The report details how a return to public-private partnership could bring more people and businesses to train travel which would see growth in revenue whilst reducing costs to taxpayers and customers.

Rail Partners offer hundreds of years of experience through an array of markets, the company’s commercial experience and innovation pre-pandemic saw them more than double passenger figures creating a growth in revenue of twice the rate of GDP which lead to a reversal in the annual £2 billion loss across the industry.

During this time freight operators also created substantial private investment which saw the rail freight market grow with a focus on taking pollutant heavy goods vehicles off of the roads in favour of a more environmentally friendly approach.

The pandemic has seen a great number of changes which means that reform is more necessary than ever. Rail Partners believe that the private sector wishes to proffer its experience to aid the government in successfully co-creating the future of rail.

Andy Bagnall, Chief Executive of Rail Partners, said: ‘The private sector has previously restored the industry’s finances to good health and they can once again help meet the significant challenges the railway faces.

‘The right conditions are needed for the private sector to do what it does best and grow the rail market – increasing revenue by delivering for customers and securing all the economic and environmental benefits a vibrant railway delivers for Britain.

‘Our research shows at least an additional £200m per annum could potentially flow back to Treasury if operators are given more commercial freedom in their current contracts.’

The report reveals three vital elements required for long-term reform which will also aid the Government’s priorities for growth:

• Getting the design of Great British Railways (GBR) right: Great British Railways needs to have a specific purpose within the new legislation in promoting private sector innovation and investment. The structure of Great British Railways and how it will operate must be clear utilising the experience and knowledge of operators.
• Ensuring Passenger Services Contracts are fit for purpose: New contracts must provide operators with the right incentives to see revenue grow back and to control spending, the right impetus regarding timetabling, fare setting and marketing as part of the Great British Railways framework would mean that the operators would be able to respond to customers needs quickly by using the in-depth knowledge of local needs and markets.
• Encouraging modal shift to using freight: Trippling freight volumes would see three times the benefits during the next decades. If that target is set and achieved it could create more than £7bn for UK plc and would see approximately 21 million fewer HGV movements each year which would support both the economy and the environment.