“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.”
Sir John Bourn, head of the National Audit Office, told Parliament today that the Office of the Rail Regulator (ORR) have made improvements to their regulation of the stewardship by Railtrack plc of the national railway network, but that much still needs to be done to provide a fully effective regulatory regime for the future. … Read more
“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:
Sir John Bourn, head of the National Audit Office, reported to Parliament today on the extent to which the Highways Agency has obtained best value for the taxpayer on the disposal of property acquired in connection with road construction. Since the Agency was created in 1994, it has raised £238 million (at 1999 prices) from … Read more
