Britain said today it would pump £33.5 billion sterling into rebuilding its railway system.
But the Strategic Rail Authority's (SRA) 10-year plan conceded that a return of confidence was needed to convince the private sector to match state investment in the network, recently called the worst in Europe by one government minister.
The increased investment will bring short-term improvements to the network while building toward government targets of 50 per cent growth in passengers and 80 per cent growth in freight over the 10 years, the report said.
The SRA, which directs public spending on the railways, estimates that over £60 billion is needed to modernise tracks and trains, ease overcrowding and cope with an expected surge in passenger numbers and freight volumes.
The £33.5 billion pounds public spending announced today is a 15 per cent rise on the provisional figure given last year.
"What this plan says is 'enough is enough'," SRA chairman Mr Richard Bowker said. "This is going to mark the line in the sand for our railways".
"But more importantly . . . this plan is committed to and supported by the government, and now we are going to deliver it," the former executive of train operator Virgin Rail Group said.
Broken up and sold off in 1996, Britain's railways have lurched from one crisis to another in recent years.
A series of crashes hurt passenger confidence, emergency track repairs led to massive delays and, last October, network operator Railtrack was forced into administration. This year has begun with strikes and calls for Transport Secretary Stephen Byers to resign.