THE long awaited legislation to implement rail reform was published in draft form on February 20, to allow parliamentary scrutiny, although it is widely expected it will not become law before the next general election.
The proposals do not replace the 1993 Railways Act, which saw nationalised British Rail divided up and Privatised, but instead make amendments to allow the transfer of franchising powers to anew Integrated Rail Body (IRB), into which the activities of Network Rail will also be transferred –including the obligations of the network licence that NR operates under for the public interest.
Although the term ‘franchising’remains in use, the current format of contracts – which are in effect concessions where a fee is paid regardless of revenue performance –is likely to remain.