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Railways: Investment

My Lords, as someone who travels regularly between Cornwall and London, I have to say that the Statement inspires rather less warm feelings in me than it may in those from some other parts of the country. Again, we see a decision delayed. Can the Minister give some indication of what a decision in the new year means in practice? How quickly will we see a decision on the replacement of Great Western intercity rolling stock? I express my deep concern that, while it is great that making passengers change train has been ruled out, changing the locomotive does not inspire great confidence. I hope that we will see a new diesel/electric hybrid able to run all the way through to Penzance.