“London Underground and the Secretary of State should not take a decision solely on the basis of the numbers emerging from their financial analysis. There are other important factors that need to be considered alongside the figures to assess the best value for money option.”
Sir John Bourn, head of the National Audit Office, told Parliament today that the Shadow Strategic Rail Authority (SSRA) and its predecessor organisation, the Office of Passenger Rail Franchising (OPRAF), had taken action where possible to remedy underperformance by passenger train operators but that the present franchise arrangements could be improved to secure better performance. … Read more
“The Rail Regulator needs to overcome the difficulties experienced up to now in monitoring Railtrack’s performance and setting effective incentives. I therefore welcome the action he is taking to secure that Railtrack maintain, renew and improve the national railway network on which the public and industry depend.”
“more could be done to safeguard the value of properties. Better maintenance, higher occupancy and faster sales would help secure better prices when properties become surplus and are sold”.
The National Audit Office makes a number of recommendations including a need for the Agency to:
