Railways: North of England
(asked on 23rd February 2016) - View Source
Question to the Department for Transport:
To ask the Secretary of State for Transport, what the premium and subsidy profile of the new TransPennine Express franchise will be in each year of that franchise's operation.
As well bringing in additional services, increased capacity, reduced fares for 16-18 year olds and jobseekers, and new cross-border services, the new Transpennine Franchise will, unlike the previous one awarded in 2003, be a premia paying franchise. The premium payments are set out below in both nominal terms and in real (i.e. constant) terms in 2015/16 prices.
|
| TPE | |
Financial Subsidy/(Premium) | £m | Nominal | Real – 2015/16 Prices |
Year 1 | Core | 5 | 5 |
Year 2 | Core | (7) | (6) |
Year 3 | Core | (20) | (19) |
Year 4 | Core | (52) | (46) |
Year 5 | Core | (99) | (85) |
Year 6 | Core | (111) | (93) |
Year 7 | Core | (144) | (116) |
Year 8 | Option | (157) | (123) |
Year 9 | Option | (179) | (136) |
Total | 9 years | (763) | (621) |