RAILTRACK

Motion Text

That this House notes with concern that following the Hatfield train crash resources have been diverted from the capital improvement programme for the purpose of repair and maintenance, to the detriment of modernisation projects such as Thameslink 2000; further notes that the Strategic Rail Authority believes that further rail expansion is threatened by the transfer of strategic funds from the SRA to Railtrack without proper controls over Railtrack's spending; further notes that current valuation of Railtrack is less than the amount Railtrack management are demanding in extra subsidy; and calls on the Govenrment to set up a not-for-profit trust which would be the recipient of shares to the value of the current subsidy to Railtrack.