Rail Industry welcomes new Infrastructure Bank

The Railway Industry Association (RIA) has welcomed the establishment of the UK Infrastructure Bank in Leeds which can support rail infrastructure as the Government looks to generate an economic recovery.

Darren Caplan, Chief Executive of the Railway Industry Association (RIA), said: “It’s great to see the new UK Infrastructure Bank set up in Leeds today, which will be vital in supporting infrastructure across the UK, including for rail projects. The railway industry will look forward to working with the Bank, to generate a rail-led recovery post-pandemic, with rail investment creating jobs and economic growth across the UK.

“Interestingly, the Bank’s location in Leeds would mean it would be one of the many beneficiaries – alongside communities across the UK – of HS2 being delivered in full, with the Eastern Leg connecting Birmingham to Leeds. So we continue to urge the Government to publish the Integrated Rail Plan and give the green light to the Eastern Leg, unlocking the full connectivity and economic benefits HS2 provides.”

1.  The announcement of the UK Infrastructure Bank can be found here
2. About RIA: The Railway Industry Association (RIA) is the voice of the UK rail supply community. We help to grow a sustainable, high-performing, railway supply industry, and to export UK rail expertise and products. RIA has some 300 companies in membership in a sector that contributes £36 billion in economic growth and £11 billion in tax revenue each year, as well as employing 600,000 people—more than the workforce of Birmingham. It is also a vital industry for the UK’s economic recovery, supporting green investment and jobs in towns and communities across the UK. RIA’s membership is active across the whole of railway supply, covering a diverse range of products and services and including both multi-national companies and SMEs (60% by number). RIA works to promote the importance of the rail system to UK plc, to help export UK expertise around the globe and to share best practice and innovation across the industry. www.riagb.org.uk