Autumn Budget 2025 representation to HM Treasury From the Railway Industry Association
15 October 2025 1.
INTRODUCTION
1.1.
This paper is the Railway Industry Association (RIA) submission to HM Treasury, as part of the Autumn Budget 2025 representations.
2.
ABOUT RIA
2.1.
The Railway Industry Association (RIA) champions a dynamic UK rail supply sector. We help to grow a sustainable, and high-performing railway as well as promoting UK rail expertise and products to international markets. RIA has over 450 companies in membership, active across the whole of the rail supply sector and covering a diverse range of products and services, including both multi-national companies and SMEs (60% by number).
3.
SUMMARY
3.1.
RIA welcomed the spending commitments made at the Spending Review 2025. Commitments to fund multiple projects, notably the TransPennine Route Upgrade and East-West Rail, over the Spending Review period are extremely important to economic growth as well as housing and jobs. Further, the Transport for City Regions funding offers great opportunities for increased connectivity and productivity across the UK.
3.2.
As central Government spending has been outlined for the coming years, this submission does not ask for additional public spending but identifies three main areas where clear and swift Government decisions could secure significant additional value from the Government’s financial investment in the railway.
3.3.
The proposals can all generate benefits within the lifecycle of this Parliament, but this now requires urgency and strong cross-government coordination. 1.
URGENTLY PUBLISH A LONG-TERM RAIL STRATEGY TO SECURE INVESTMENT AND LOWER COSTS
To give industry confidence to keep investing, the Government now needs to publish a clear long-term rail strategy, including clear targets for passenger and freight growth, decarbonisation, and new strategic connections, aligned with wider national priorities, such as housing and productivity. Long-term strategic clarity will help put an end to inefficient investment spending cycles, reduce the cost of railway improvements, and sustain jobs, while demonstrating how rail underpins housing, regeneration, and national economic objectives. Strategic clarity has been lacking for many years across Governments of all political colours. Fifteen months into the new Government, if we are to get the benefits of cost reduction and increased investment confidence within the lifecycle of this Parliament, we believe a clear strategy needs to be published with urgency. We provide further details on the core content we expect to see in a strategy in this submission.
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