Details of the annual grant funding for the years 2014 to 2019 (Control Period 5) which the Department is making available to Network Rail to meet its infrastructure commitments are in the table below:
Annual grant total (m)
Note: Figures in the above table are given in cash prices.
* these are estimates - figures will be finalised following the publication of the Retail Price Index determined with respect to November 2016 and November 2017.
Government grant support for the financial years 2005 – 2014 (which covered control periods 3 and 4) can be found in Network Rail’s Accounts, which are available here: http://www.networkrail.co.uk/Annual_report_archive.aspx. .
In addition, Network Rail also has a £30.3 billion loan facility agreement signed on 4 July 2014 which covers Network Rail’s financing requirements for Control Period 5. Network Rail can draw down funds in different years, subject to business need and the Statement of Parliamentary Supply. In accordance with the terms of the agreement, the loan facility is subject to amendment and is currently set at £30.875 billion. This is the maximum Network Rail can draw down.