Luxembourg Rail Protocol to save United Kingdom between £4.8 and £5.2bn
Oxera has updated its 2018 study for the Rail Working Group that assessed the direct microeconomic benefits from the Luxembourg Rail Protocol. The Luxembourg Rail Protocol is a new global treaty that will make it much easier and cheaper to finance railway rolling stock. The 2018 study focused on a group of 20 European countries, and Oxera has used more recent data on existing rolling stock and future procurement plans to provide an update on the Protocol’s benefits to the UK.
The study does not measure the wider benefits of the Protocol, but it should have a positive effect on the environment, as well as social and economic benefits for the country as a whole.