| answer text |
<p>The Department for Transport is making available funds to Network Rail to meet
its Control Period 5 commitments from the following three sources:</p><p> </p><p>
</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>1. Network Grant</p><p> </p><p>
</p><p> </p><p>This provides funding for Network Rail’s Permitted Business. Payments
are made in accordance with Schedule 1 of the Department for Transport – Network Rail
Infrastructure Limited Deed of Grant for Control Period 5.</p><p> </p><table><tbody><tr><td><p><strong>Financial
Year</strong></p></td><td><p><strong>Annual grant total</strong></p></td></tr><tr><td><p>2014-15</p></td><td><p>£3,547,169,029.17</p></td></tr><tr><td><p>2015-16</p></td><td><p>£3,569,
244,491.02</p></td></tr><tr><td><p>2016-17</p></td><td><p>£3,606,597,940.14</p></td></tr><tr><td><p>2017-18</p></td><td><p>£3,653,747,782.10</p></td></tr><tr><td><p>2018-19</p></td><td><p>£3,284,410,500.67</p></td></tr></tbody></table><p>
</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>Note: Figures in the
above Schedule are given in 2012-13 prices.</p><p> </p><p> </p><p> </p><p> </p><p>
</p><p> </p><p> </p><p> </p><p> </p><p>2. Loan Funding</p><p> </p><p> </p><p> </p><p>The
£30.3 billion loan facility agreement signed on 4 July 2014 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 £30.175 billion. This is the maximum Network Rail can draw down,
and includes a £1.8 billion risk buffer.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p>
</p><p> </p><p> </p><p> </p><p>3. Funding for projects in addition to the agreed Rail
Investment Strategy</p><p> </p><p> </p><p> </p><p>The latest long-term forecast (June
2015 update) for additional programmes carried out by Network Rail not initially set
in the Department’s Rail Investment Strategy is set out in the following table:</p><p>
</p><p> </p><p> </p><p> </p><p> </p><table><tbody><tr><td><p><strong>Financial Year</strong></p></td><td><p><strong>Annual
funding total</strong></p></td></tr><tr><td><p>2014-15</p></td><td><p>£63 million</p></td></tr><tr><td><p>2015-16</p></td><td><p>£94
million</p></td></tr><tr><td><p>2016-17</p></td><td><p>£129 million</p></td></tr><tr><td><p>2017-18</p></td><td><p>£76
million</p></td></tr><tr><td><p>2018-19</p></td><td><p>£87 million</p></td></tr></tbody></table><p>
</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p>
|
|
