The UK rail industry needs to invest or die, said Rail Supply Group (RSG) co-chairman and Alstom’s UK president Terrence Watson.
Comparing the export volumes of the UK rail sector to that of Germany and France, Watson, who was giving the keynote address on day two of the Railtex trade exhibition, said: “We should be competing overseas not defending the domestic market.”
Publishing its ‘vision statement’ in January, the RSG stated that the UK rail industry should aim to double exports by 2025.
He said the UK industry was stuck in “development mode” and needed help to compete on the international stage.
The UK industry must capatalise on the current levels of investment but be able to see past the domestic demand. Without investment “we’ll die,” said Watson, adding: “That’s a fact. It’s not a risk, it’s not a threat.”
He levelled some of the issues facing the industry at privatisation and how it has taken focus away from long-term planning.
“Frankly why should a five-year franchise be looking at a 10-year investment,” he added.
