Stronger control of RAB needed

摘要

Pointing out that since 2007-08 the railway industry has been effectively balancing operating costs and revenue, Sir Roy McNulty warns that this means that industry's net cash position shows a 'significant' deficit. With no cash surplus from operations to contribute to 'substantial' capital expenditure and enhancement costs, Network Rail has been accumulating substantial expenditure in its Regulatory Asset Base, rising from around £7bn at the start of 2001-02 to just under £35bn in 2009-10.