Heritage railway proposes 'radical' change

The Severn Valley Railway (SVR) has announced proposals for what it calls a "radical" and "essential" restructure in order to survive.

The railway said it had been put under strain in recent years because of a number of pressures, including an increase in costs, the coronavirus pandemic, and the war in Ukraine which it linked to difficulties in the supply of coal and costs of materials.

SVR is made up of three legally separate entities which, under the plans, would combine into a singular charitable community benefit society.

"It wont affect anyone's positions or anybody's roles," said Gus Dunster, the railway's managing director.

"What it will do, for example, is enable us to gain the ability to access gift aid on quite a number of the tickets we sell," he said.

"It's got more of a financial resilience benefit to it than anything else."

The proposals will be put to members and shareholders, after which they will vote in 2025 on whether to make the change.

Mr Dunster said that if the proposals went ahead, there would be no changes for customers.

SVR operates steam and diesel-hauled passenger trains along a 16-mile route between Kidderminster, Worcestershire; and Bridgnorth, Shropshire.

"The only difference, I guess, might be that if you are a UK taxpayer, we will be asking you whether or not you want to apply gift aid to your day on the SVR, and of course many, many other museums and attractions do that," Mr Dunster told the BBC.

He added that with the three entities combining into one, there would be less duplication across the railway.

In 2023, the company launched a £1.5m "survival fund appeal", where it asked for donations from the public.

It raised £500,000, which bosses said enabled the SVR to get through "one of the most challenging periods in its history".

A similar appeal that launched in May 2024 raised more than £70,000 in two months.

"Last year, we did actually make a cash loss, but this year as we've stabilised things… we are expecting to turn that around," said Mr Dunster.

"It would potentially prejudice the railway's position if we can't get this through… we think it's very compelling.

"It won't sort everything out, it's another step on our road to stabilise our railway, recovering from the longer-term impacts of Covid, and the war in Ukraine, and all the other things that we've seen in the last few years."

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