Today The Office of Rail and Road (ORR) published its financial report showing how the railway was funded in 2017-18 and how that money was spent. The data shows that in 2017-18 the cost of running the railways rose 1.4% to £20.6bn and that overall the industry received 1.3% (£19.4bn) less income than in 2016-17. This is largely because falling passenger numbers meant that income from fares fell 2.4% compared to the previous year.
Other key points raised in the report include:
- The industry received £19.4bn of income in 2017-18, a 1.3% decrease from 2016-17.
- The industry spent £20.6bn, a 1.4% increase from 2016-17.
- Income from fares was £9.8bn, a decrease of 2.4% compared to 2016-17. This is due to a 1.4% fall in passenger journeys.
- Franchised train operators’ overall costs fell 1.6% to £12.9bn. This is largely because they paid 12.1% less to governments.
Download the full report click here.