My Lords, I added my name to the amendment to note that rail contributes £85 billion of extra economic benefit to the British economy. About 41,000 of the 240,000 people who work in the rail industry are EU nationals. To make this point, the amendments basically say that we have to adhere to
the European Union Agency for Railways, which has EU-wide responsibility for implementing the technical aspects of railway legislation. This cannot be under- estimated because it encompasses safety, specifications of interoperability—TSIs—and a common verification process for infrastructure and rolling stock. Most railway industry manufacturers have standard products designed for supply across the whole of the EU, in line with these requirements.
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If we try to replicate these EU laws, the variations might result in UK-specific standards. We hear that we will adhere to international and European standards in this area, but it will not be as easy as the current arrangement. There is an assumption that the UK will maintain existing standards. What about the implications for infrastructure and services? There are doubts as to whether the UK’s continued involvement will work at all. The main point I want to make is that in a global industry such as rail, many benefits of international or supranational standards development will be lost if the UK ceases to participate. If UK standards were different there would be a loss of economies of scale. Costs might increase and some manufacturers might choose not to compete or supply the UK market at all.