STATUS OF NETWORK RAIL

That this House notes that the Office for National Statistics is to reclassify Network Rail as a central government body from 1 September 2014, adding Network Rail's £30 billion debt to the national debt; recognises that since Network Rail's creation, Ministers have respected the company's status as a private company by not exercising executive authority over Network Rail's management or operational activity; further recognises that the reclassification of Network Rail as a central government body offers the opportunity for a new relationship between the company and ministers; and believes this new relationship should begin with an instruction from the Secretary of State for Transport to Network Rail's directors that any future proposal for executive bonuses must be approved by Ministers.