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<p>Given the size of its capital spending portfolio, Network Rail will be granted
financial flexibilities over its spending which will allow it to move funds between
financial years, to reflect the inherent volatility of capital spending. These flexibilities
were set out in the Department for Transport’s response to the Office of Rail and
Road’s second consultation on Periodic Review 18’s financial framework, published
in June 2018, available at http://orr.gov.uk/__data/assets/pdf_file/0007/27862/pr18-responses-to-second-consultation-on-the-financial-framework.pdf</p>
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