Publisher's Synopsis
The Department for Transport, Network Rail and the Office of Rail and Road (ORR) agreed an unrealistic programme of rail investments for 2014-2019. The programme contained too much uncertainty around the costs of many large projects when it was signed off. Since then Network Rail's work has cost more and taken longer than expected. We are concerned that the ORR, Network Rail's regulator, lacks the capability to robustly scrutinise Network Rail's plans and cost estimates. The severity of the planning and budgeting failures is especially clear in the programme to electrify the Great Western Main Line from London to Cardiff, which is now expected to cost up to ¦1.2 billion more than the ¦1.6 billion estimated only a year ago. We make clear our substantial concerns in this report. We also look forward to Sir Peter Hendy's detailed review into how the. investment programme can be delivered.
