Government explores buying trains over leasing in new rail strategy

New trains could be publicly owned rather than leased, as part of plans set out today (28 September 2026) by the government in a new strategy for trains and infrastructure.

For the first time in 30 years, the railway will take a coordinated approach through Great British Railways (GBR) to decide on trains, track, depots and maintenance, ensuring investment is planned across the entire network instead of in isolation.

The rolling stock and infrastructure strategy sets out a new policy for future train procurements. For the first time, GBR will assess whether direct public ownership, leasing or other financing arrangements offer the best value for taxpayers and fare payers.

Stronger public control over essential services like transport will help make sure they are designed and run in the best interests of the public, making them work for people and places again. The government’s decision to take back public control over the railways will create a more joined‑up system that puts passengers first, delivers better and more reliable services and leaves the fragmentation of the past behind.

For more than 3 decades, most passenger trains have, by default, been owned by rolling stock companies and leased to operators.

Now, GBR will take a case-by-case approach to new trains and consider whether private or public ownership gives taxpayers the best overall value.