Launch of the new stations fund
Fund launched to help towards costs of opening new railway stations.
I am pleased to inform the House that Network Rail is launching today the new stations fund, which will help towards the capital cost of opening brand new railway stations in England and Wales.
This fund will provide up to £20 million of additional funding to projects which are ready to be brought quickly into use for the benefit of passengers and the economy.
The government is committed to improving the railways. Opening new stations can provide a boost to the economy and deliver longer term benefits through improved access to the rail network and better connectivity for passengers.
Proposed new stations must already be at an advanced stage of development and be supported by the local authority, train operating companies and Network Rail. The £20 million fund will contribute towards the cost of scheme construction but bidders must also have available a portion of funding towards the project themselves.
Applications for funds will be assessed by a cross-industry panel. Because this fund is designed to support station proposals which are already well developed we expect bids to be received by the end of February 2013 with a recommendation from the panel before the end of March 2013.