The government has set a target for rail freight to increase by at least 40% in net tonne kilometres by 2040, marking the first milestone toward an ambition of at least 75% growth by 2050. The plan, unveiled on 8 September 2026, is intended to give operators confidence to invest while strengthening supply chains and supporting economic growth. Rail freight already carries goods worth almost £34 billion annually for the UK economy, and meeting the 2040 target could add around £15 billion to that figure. The government expects high-value goods volumes to rise 65%, construction goods 45% and critical goods 7% by 2040, while the movement of goods including cars, wine, white goods and medicine could increase by around two-thirds. The target could save up to 1 million tonnes of carbon dioxide a year compared with moving the same freight by road. The Railways Bill, which begins its committee stage in the House of Lords, would establish Great British Railways, give it strategic oversight of network access and impose duties to support freight growth. A dedicated board member would also represent freight interests.