National Rail Budget Analysis

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Each of the above targets have clearly defined targets which need to be achieved in order for funding to be released. If National Rail or any subsidiary fails to meet these targets as noted in the funding agreement, the DfT could initiate the necessary measures to remedy the situation, and if needed, request reimbursement of some of the funding paid. Over the last few years the National Rail service has seen a shift in public sentiment moving away from traditional funding models towards a growing prevalence on incentive / performance based budgeting. This change in sentiment is becoming increasing popular within the UK electorate to ensure that service shortfalls and budget overruns are being addressed. With respect to the UK Rail…show more content…
This format of new policy proposals will require National Rail to work with partners to identify key benefits, risks and milestones that will need to be achieved in order to meet certain performance benchmarks. This process should also include systematic reviews of how National Rail plans to embrace new policies and procedures required to manage the implementation process, track progress and inform evaluation. Programmatic and financial reviews will become more transparent with this quantitative information become a core component of the ongoing CP6 budgetary process, which will also play an important role how performance information is used to inform the budget allocation process. The hope of this process would be to achieve a more coordinated strategic process with stronger linkages to the budget planning and resource allocation process. The new arrangements involve Finance administration of procedures for identifying and managing reviews, in co-operation with other departments. The effect of performance information on decision-making and resource allocation in the budget process is mixed. The outcomes policy has resulted in the development and reporting of performance information by all agencies in the general government sector. This offers considerable scope for that

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