The government has introduced a new target for rail freight growth, aiming for at least a 40% increase in freight moved by rail in net tonne kilometres by 2040. This serves as an additional milestone towards the existing ambition of at least a 75% increase by 2050.
The target reflects a commitment to improving supply chain resilience, economic growth, and decarbonising the logistics sector. It is estimated that achieving the 2040 growth target could increase the value of goods moved by rail freight from £33.7 billion to £49.5 billion.
Furthermore, meeting this target is estimated to save one million tonnes of CO2 per year compared to road transport. The Railways Bill, currently before Parliament, is set to provide for the Transport Secretary to set a rail freight growth target for Great British Railways (GBR), embedding this duty into the new body's decision-making.