Train operators and Network Rail have been warned they must find new ways to cut costs to ensure service levels can be maintained in the face of likely reductions in Government support when the industry’s current funding settlement ends in 2014.
The need for a new-look, more efficient industry was spelt out at a seminar for industry executives explaining the value for money review announced in the pre-Budget report.
Sir Roy McNulty, chairman of the review team, said there would be...
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