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Rail industry finance (UK)

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Annual statistics reporting income and expenditure for Network Rail, passenger operators (both franchised and open access) and other sectors of the UK rail industry including Northern Ireland. It also includes data for government support to the rail industry. Before 2019-20, detailed analysis was published in the UK rail industry financials.

For details on how these statistics are compiled, please see our Rail finance quality and methodology report and for information on any revisions, please see our Revisions log.

Data and reports that include previous statistical releases on Rail investment and subsidies can be found on the National Archives. Previous UK rail industry financial reports can be found on the ORR website.

If you have any questions or feedback on these statistics, please contact rail.stats@orr.gov.uk


Latest statistical release

Rail industry finance (UK), April 2021 to March 2022
Rail industry finance (UK), April 2021 to March 2022

Date published: 29 Nov 2022
Date next published: TBC

Key results

  • With the easing of restrictions due to the pandemic, passengers increasingly returned to the railway during the latest year (April 2021 to March 2022). Passenger revenues started to rise and as a result government support to the industry reduced.
  • Total rail industry income in the latest year was £21.3 billion. Adjusted for inflation this is a decrease of 0.9% from the previous year. This consisted of £13.3 billion from government funding, £6.5 billion from passenger operators (£5.8 billion of fares and £0.7 billion of other train operator income), and £1.5 billion from other sources.
  • Total expenditure in the latest year was £22.8 billion. Adjusted for inflation this is a 3.9% increase from the previous year, largely caused by increased finance costs. This consisted of £10.9 billion of franchised train operator expenditure, £10.7 billion of Network Rail expenditure and £1.2 billion of expenditure by other parts of the rail industry.