Rolling Stock: Leasing
The question
To ask the Secretary of State for Transport, whether her Department has undertaken an assessment of the potential impact of rolling stock continuing to be leased from private rolling stock companies following the transfer of train operators into public ownership on the public purse; whether alternative ownership structures are under consideration as part of the development of Great British Railways; and what discussions have taken place with the Office for National Statistics regarding the future accounting treatment of rolling stock leases in the National Accounts.
Answered by Keir Mather
The Department is considering these issues as part of the development of the Rolling Stock and Infrastructure Strategy, to be published later this year. It will set out how we will secure rolling stock that supports consistent, reliable services for passengers, while reducing the net subsidy of the railway to provide value for money for the taxpayer.
Following the transfer of train operations into public ownership, existing rolling stock lease arrangements will continue in place ensuring the continuity of services. We recognise the significant investment that the private sector has brought to the rolling stock market.
The Department engages with the Office for National Statistics (ONS) on classification matters in the usual way. However, classification decisions are made independently by the ONS.
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