 |
answer text |
<p>The Framework Agreement sets out how the Department for Transport and Network Rail
interact in terms of corporate governance and financial management. As set out in
that document, the Department will be engaged by Network Rail during the production
of several corporate planning documents, as is appropriate for a sponsoring Department,
in order to agree the strategic approach:</p><p> </p><p>- Strategic Business Plans.</p><p>-
The Delivery Plan.</p><p>- The Business Plan.</p><p>- Annual Plans.</p><p> </p><p>The
Office of Rail Regulation regulates Network Rail’s stewardship of the national network
in accordance with the Railways Act 1993. It continues to monitor and oversee Network
Rail’s delivery of outputs, efficiency and financial performance against what it has
challenged Network Rail to deliver in its Determinations that are developed through
the Periodic Review process. The Determinations reflect Network Rail’s Strategic Business
Plans amongst other things. The Department will not duplicate the Office of Rail Regulation’s
work, but will oversee Network Rail’s performance on behalf of the UK taxpayer at
a more strategic level, based on the Office of Rail Regulation’s analysis of performance
and discussions with Network Rail’s Board.</p><p> </p><p>The Strategic Business Plans,
Delivery Plan and Business Plan for Control Period 5 were finalised prior to the company’s
reclassification to the public sector. Network Rail will continue to update its Plans
for Control Period 5 on an annual basis.</p><p> </p>
|
|
