The Railway industry Association (RIA), which represents over 300 UK rail businesses, has responded to a Budget Update published by Transport for London (TfL) today.
Despite forecasts that show that without the Omicron variant, passenger numbers would have returned to 82% of pre-Covid levels by the end of the 2021/22 financial year, the update shows:
The TfL Budget Update can be found here.
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 300+ companies in membership in a sector that contributes £43 billion in economic growth and £14 billion in tax revenue each year, as well as employing 710,000 people. It is also a vital industry for the UK’s economic recovery, supporting green investment and jobs in towns and communities across the UK; for every £1 spent in rail, £2.50 is generated in the wider economy. 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). www.riagb.org.uk
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