Fresh from derailing the northern leg of HS2, the government has announced an ambitious target to increase rail freight transportation by at least 75% by 2050 under the newly announced Rail Freight Growth Target.
Announced by Transport Secretary Mark Harper, the move hopes to leverage the rail freight sector as a cornerstone for economic development and job creation.
The government believes it will also lead to “significant” environmental benefits by taking lorries off the roads, slashing emissions and congestion in the process.
“This ambitious plan demonstrates this government’s confidence in the rail freight sector and I hope it encourages businesses to capitalise on the extra opportunities so the industry continues to thrive and deliver for our country,” said Harper.
“Not only is it the most efficient and environmentally friendly way of transporting many goods, but it helps grow the economy across the country,” he added.
Billion of pounds saved from scratching significant parts of HS2 are being directed to the initiative.
An estimated £36 billion was saved when Prime Minister Rishi Sunak decided to scrap the northern leg of HS2.
Sunak promised to divert some of these funds to rail and road upgrades between the West Midlands, Manchester, and Liverpool.
Maggie Simpson, director general of the Rail Freight Group, stated: “We are delighted that government has recognised the economic and environmental benefits of growing rail freight.
“This target sends a strong message about the benefits and potential of rail freight which will encourage investment by industry and private businesses and attract more customers to move their goods by rail.”