Network Rail funding gap puts brake on five-year plan, ministers admit
Soaring costs and missed targets make pledges of £38.5bn investment plan untenable, transport secretary Patrick McLoughlin expected to say
The catalogue of delay, missed targets and overspending at Network Rail is set to force ministers to admit that the vaunted biggest investment in the railway since Victorian times will not deliver the projects promised in a £38.5bn five-year plan.
The electrification of the Midland mainline linking London to Sheffield, described as “critical to maintaining a reliable railway”, is likely to be axed from the schedule as ministers attempt to get to grips with Network Rail’s soaring costs.
Source: Guardian Transport