Railways statement of funds available 2022
Sets out the public funds government is making available for the railway during control period 7, 2024 to 2029.
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This is the statement of funds available (SoFA) for railway control period 7 (April 2024 to March 2029). It sets out for the Office of Rail and Road (ORR) the information about the public funds, in respect of England and Wales, that the government is making available during the period.
This is to support delivery of the Secretary of State’s high level output specification (HLOS) provided on 1 December 2022, which is aimed at ensuring that the railway becomes more focused on issues that matter most to its customers.
This follows work conducted by government, in consultation with the ORR, to further assure itself that the volumes and costs of operations and maintenance activity will be reasonable and affordable.
The 2017 SoFA set out total Network Rail expenditure of £47.9 billion. Of this £10.4 billion was earmarked for enhancements.
The SoFA is a statutory requirement introduced by the Railways Act 2005.