Network Rail bosses have defended lucrative additional bonus pay for executive directors ahead of a key vote.

Rail bosses challenge claims over HS2 budget

Report from regulator tells Government to consider privatisation or risk unsustainable borrowing affecting safety and ticket prices

Balfour Beatty is to close three of its regional construction businesses with the loss of up to 200 jobs. The largest closure is at Dartford, Kent, where 90 jobs will go. The other sites are at Rochdale, in Lancashire and Doncaster in Yorkshire.

Network Rail, the heavily-indebted body that runs Britain's tracks and most prominent train stations, has warned that even their best contractors face suspension if safety records do not get better.

Outlook Sir David Higgins must think that the Olympics was a doddle. Having overseen the construction of London 2012 well under the (admittedly revised) budget of £9.3bn, the Aussie businessman decided to take charge of an organisation that really has earned a poor reputation over the years, Network Rail.

Network Rail today admitted its debt mountain soared past £30 billion and its post-tax profit dropped 8 per cent in the past year, just days after it handed five directors bonuses worth more than £350,000.

Labour would stick within the Coalition’s limits on day-to-day spending if it wins power in 2015 but would plough billions of pounds more into housebuilding and road and rail projects.

Shadow chancellor says Labour would axe grant for 600,000 better off pensioners

French energy giant EDF was the big winner among Network Rail's suppliers, scooping almost £300m in the last financial year through providing Britain's track operator with electricity.

The burden of Network Rail's £28bn debt pile means that 13 per cent of the cost of running the railways is taken up in loan repayments, according to the industry regulator.

Authorities are winning the war against metal and cable theft on the railways, according to latest figures.

Network Rail, the Government-backed body that runs and maintains Britain's tracks and busiest train stations, is looking to take advantage of record low interest rates to keep a grip on its rising debt burden.

The Government risks angering trades unions with plans to commercialise the running and repair of Britain's core roads network, a move likely to lead to full privatisation.