I think the previous interim plan for Oxenholme-Windermere branch was for limited services via Bolton and later a portion working with the Blackpool service before becoming a branch shuttle from 2016 when Blackpool was electrified and the diesels went elsewhere. Electrification would be very welcome but I first heard on the grapevine about this study a while back!
Must say its hard to wade through the reannouncement of projects in this speech, announced many times before, and actually find new funding. Indeed the Institute of Fiscal Studies has condemned this Government Spending Review as 'woeful'
http://www.bbc.co.uk/news/business-23082495
Looking through the detail, new schemes are mostly motorway and major a road upgrades, the £2m feasability study for Crossrail 2 will be on identifying sources of funding with a target of 50% or more being private rather than Government funding.
This is buried in the document published today posted above.
Lord Deighton has been given a mandate by the Prime Minister and Deputy Prime Minister to overhaul the delivery of public-sector infrastructure projects and programmes. Key to this new approach will be the introduction of a presumption that significant economic infrastructure projects and programmes should be undertaken by specialist delivery units with commercial expertise. This will include:
Drawing on the Brown Review of the franchise programme and the work of Lord Deighton to improve delivery of significant infrastructure projects, the Department for Transport (DfT) will bolster its commercial capability in rail franchising. By December 2013, DfT will conclude its evaluation of the options and set out plans for the future location of these functions so as to ensure the optimal management and delivery of the Governments rail franchising programme;
Drawing on the findings of the Cook Review, the Highways Agency will be transformed in to a publicly-owned corporation which has the long-term funding certainty and flexibility which will enable it to deliver capital efficiencies worth £600 million by 2020-21. This investment and these reforms will be underpinned by legislation to provide certainty for the public, business and industry;
So the highways agency becomes like Network Rail and a new arms length franchising team within the Dft or spin off sub agency, possibly heavily relying on outsourcing staff or hiring in industry expertise.