This annex is published along the interim report for the Rail Needs Assessment for the North and the Midlands being undertaken by the Commission.

It sets out how a budget for the Rail Needs Assessment has been derived from the fiscal remit table published in the National Infrastructure Assessment.

The fiscal remit is a long term funding guideline given to the Commission by government, which requires the Commission to demonstrate that its recommendations for economic infrastructure are consistent with, and can be accommodated within, gross public investment in economic infrastructure of between 1.0 per cent and 1.2 per cent of GDP in each year between 2020 and 2050.