The UK regulator, the Office of Rail and Road, has launched the process for determining the funding needed for Britain’s rail network between 2024-2029. Critical decisions affecting freight and passenger capacity depend on the forecasting. The process, known as the 2023 Periodic Review (PR23), sets a five-year settlement that will determine the level of funding the infrastructure owner – currently Network Rail but set to become Great British Railways – should receive for its operation, maintenance and renewals activities.