Restoring Your Railway Fund
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 September 2025 to Question 71255 on the Restoring Your Railway Fund, if she will publish all the assessments undertaken by her Department relating to the decision to cancel the Restoring Your Railway fund.
Answered by James Murray
In her first week on the 8th of July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake an audit of public spending and public finances left by the last government. The audit’s findings showed a devastating forecast overspend on departmental spending of £21.9 billion above the resource departmental expenditure limit (RDEL) totals that had been set at Spring Budget 2024.
Taking immediate action to respond to the spending pressure on the UK’s public finances left by the last government, the government cancelled the Restoring Your Railway programme as a vital cost-saving measure of £85 million.
HM Treasury always carefully considers the impact of its decisions, but had to make difficult decisions in light of the black hole left by the last government.
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