Theo Steel reviews a challenging financial year in 2017-18
For the rail industry, 2017-18 was a difficult year. As the Office of Rail and Road’s review of finances shows, total costs rose by 1.4% to £20.6 billion, while total income was down 1.3% at £19.4 billion and fares income down 2.4%. The statistics bring out the fragility of the current structure for franchises in particular and provide the statistical background to the Williams Review.