The Strategic Rail Authority (SRA) today published a new guide that will introduce a more transparent and consistent approach to appraising passenger rail and rail freight proposals.
The new criteria are to be used by the SRA in assessing priorities and also by external agencies (for example local authorities) who might wish to propose investments in rail. The guide is comprehensive and applies to policy changes, capital and revenue projects, service changes and funding programmes.
It also provides advice to sponsors on how to prepare business cases, guidance on how costs and social benefits are measured and includes recent passenger and freight case studies as practical examples. Right up to date, it reflects changes to the public sector appraisal guidance published by HM Treasury earlier this year, including using the new discount rate (3.5%), and requirements to adjust for risk and optimism bias.
Richard Bowker, SRA Chairman said:
"Our new Appraisal Criteria offer a comprehensive approach to assessing proposals and take account of the wider social benefits of passenger rail and freight proposals. They describe the mechanisms by which the SRA judges and demonstrates that best value has been delivered for taxpayers.
"The criteria will be developed and updated as we learn from experience and emerging research. They will play an important role in making the case for rail."
The guide is an expanded version of OPRAF's 'Planning Criteria'1 and has been updated to reflect changes to the SRA's responsibilities.
Notes to Editors
Copies of Appraisal Criteria - A Guide to the Appraisal of Support for Passenger and Freight Rail Services are available from the SRA Press Office or on our website http://www.sra.gov.uk/ under publications.
It is intended that further updates to the main document will be periodically announced on the SRA website.
For further details contact the SRA Press Office on 020 7654 6339/ 6387 /6234/ 6862 Or visit the website at http://www.sra.gov.uk/
