In among a busy report passengers will probably welcome three things in particular:
• Recognition that demand management (pricing off) is unlikely to work or be acceptable in the commuter peak. Smart ticketing and attracting people to off peak is more likely to work, as we have said for some time.
• Yes, the rail industry must become more efficient (look at fare rises this week) but not at any price: service standards must be maintained.
• Recognition of the economic and social benefit of the railway – it benefits the whole country. Every taxpayer pound is now matched roughly by two from passengers
So, more contributions as the Government and industry start to really limber up on working on how much to spend from 2014-19 and what to spend it on.