📝 Download the transcript here.
About the session
In a timely conversation today focused on the transformative post-election developments coming to Britain’s railways, Howard Smith OBE spoke to Steer in a personal capacity about what he thinks the opportunity is and what the future could look like.
Our key takeaways were:
- Bring together revenues and costs: public sector service delivery should make it easier to understand which parts of the railway are potential profit centres and “loss leaders.” We need to understand the former to identify and prioritise our efforts to grow revenue.
- Creating connectivity is key: now affirmed by the Government’s ambition for an integrated transport strategy, it should be a particular focus across both cities and regions with a focus to support additional housing. Defining the final purpose and role of HS2 and its services in this is a significant factor.
- Post-pandemic consensus: we should now have a good idea of rail needs and passenger trends, so we should be moving to make railways more customer-centric with this insight, stability, and confidence.
- Rail freight is influential: while rail freight might not contribute material net revenue to the sector, it has a bigger part to be played in generating policy and political support for the sector.
- The exciting potential: the sector can and should be offering a reason to stick with it. There will be some greater career opportunities to learn, grow and make a difference.
Where might Britain’s railway be in five years? A busier rather than bigger network, a sector which offers simplicity, and a railway which generates trust with its users. A railway that is internationally competitive in its ambitions and capabilities.
Contact our speakers
Thank you to our speakers Howard Smith OBE, Director - Elizabeth Line, Transport for London, and Mike Goggin, Managing Director - Growth & Transformation at Steer. Want to stay in touch?