Winsor in plea to stay independent

RAIL Regulator Tom Winsor has asked the Government not to abolish his independent role nor merge his responsibilities with the Strategic Rail Authority.

Speaking at a rail conference in London, he said the lack of an independent regulator would, in the eyes of private-sector investors, increase uncertainty, unpredictability and political risk and drive up the cost of financing investment.

At the same conference, Strategic Rail Authority rail chairman Richard Bowker insisted that the City is still prepared to inject £30bn of investment in the railways over the next 10 years.

'We are being approached by potential investors saying they have the willingness and the funds to invest,' he said.

Transport Secretary Stephen Byers said City investors had realised that the Railtrack situation had been unique and that they were comfortable with investing in the railways in public private partnership