A new target for increasing rail freight has been published by the Government.

The aim is to see the volume of freight carried by train to be increased by at least 40 per cent by 2040, and at least 75 per cent within the following ten years. It said the new targets were intended to give the industry confidence to invest.

Trains already carry goods which are worth almost £34 billion each year to the national economy. Ministers believe meeting the new target would increase this figure by another £15 billion.

Network Rail estimates the new targets could increase the transport of construction materials by 45 per cent, and boost the movement of goods like cars, wine, white goods and medicine by around two-thirds.

Transport secretary Heidi Alexander said: ‘Great British Railways will have a clear mission to help grow our economy by moving more of the goods British businesses rely on.

‘Our new target gives the rail freight industry the certainty it needs to invest, helping businesses move more products, deliver the materials needed to build new homes and infrastructure, and support jobs across the country.’

The Railways Bill which establishes Great British Railways also began its Committee Stage in the House of Lords today. 

A dedicated member of the new Railways Board will have responsibility for freight, ensuring the needs of freight operators and the businesses they serve are taken into account from the beginning.

Network Rail’s chief executive Jeremy Westlake said: ‘Rail freight is a vital part of our transport network and the UK economy, moving millions of tonnes of goods every day – putting food on our supermarket shelves, delivering the materials that build our homes and critical infrastructure, and much more besides.

‘Increasing the role of freight on the railway is not just good for economic growth; it reduces congestion on our roads, cuts carbon emissions, and supports our ambition to build a cleaner, more resilient transport system. We fully support the government’s target, which sets a clear direction of travel and rightly demonstrates just how critical the role of rail freight is, and we will continue to work with partners to make this ambition a reality.’

Rail Freight Group director general Maggie Simpson added: ‘We welcome this announcement. There are huge opportunities for moving more goods by rail and the sector stands ready to fulfil government’s bold targets for growth, making an even stronger contribution to the nation’s productivity, development and resilience.’

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