Railway Industry Association responds to Ministerial Statement on HS2

The Railway Industry Association (RIA), the national trade body for over 290 rail suppliers has responded to the Government’s Written Ministerial Statement on HS2 today.
 
Darren Caplan, Chief Executive of the Railway Industry Association, said: “Despite today’s news that HS2 Phase 1 may not be completed until 2028/29 and the update on costs, it is important to remember the project remains vital for the UK, its economy, cities and regional communities, and as shown by Chairman Alan Cook's Stocktake, the benefits have been substantially undervalued. It will still more than pay for itself in GVA for the country, and will support 30,000 jobs at peak construction.
 
“We do of course need to ensure major infrastructure schemes like these represent value for money for the taxpayer, which is why the Railway Industry Association welcomed the setting up of the Oakervee Review and looks forward to working with the Review team to see how HS2 can be delivered as quickly and cost-effectively as possible.”

1. The Written Ministerial Statement 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. We promote and represent our members’ interests to policy makers, clients and other stakeholders in the UK and overseas. RIA has 290+ 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 growing industry with the number of rail journeys expected to double over the next 25 years and freight set to grow significantly too. 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