DfT ‘Ideas Fund’ Application
The feasibility of reinstatement ultimately rests upon business cases. These must demonstrate the benefit cost ratios to be expected from implementation of the project. Justification of both the capital investment and the net operating costs of the railway depends upon these findings. In simple terms, the benefits are those derived from the railway by individuals, communities, businesses and the environment, both in Upper Wensleydale and further afield, whilst the costs concern initial investment and subsequent maintenance. Fare revenues would be expected to match marginal operating costs.
As might be imagined, this is a complex and iterative process for which the railway industry and the government have laid down extensive and detailed guidelines. In particular, the assessment of the demand for the new service and the numbers of passengers it will attract is rigorous. It is UWR’s objective to develop the expertise to be able to make such assessments.
In early 2020, the UK Government’s Department for Transport (DfT) announced its ‘Restoring Your Railway’ initiative, otherwise known as the ‘Reversing Beeching’ initiative. (In 1963, Dr Richard Beeching prepared a report for the government of the day that led to the closure of numerous railway routes.)
One element of the 2020 initiative was the ‘Ideas Fund’. This was an invitation to submit to the DfT outline railway reinstatement schemes for their further scrutiny. Those schemes that showed potential would be awarded funding towards the preparation of their business cases. UWR made an initial and then a revised application to the Ideas Fund, both of which received comprehensive and constructive feedback. However, unfortunately, no award of funding to support the development of our business case was made.
The format required by the DfT in applications to their Ideas Fund corresponded to the essential elements of the overall business case for the project. The DfT gave their feedback on each of these elements accordingly. UWR’s work on assessing feasibility thus continues in the light of this feedback received.