The report formally known as "Modernisation and Re-Equipment of the British Railways", more commonly the "Modernisation Plan", was published in December 1954. It was intended to bring the railway system up to date. A government White Paper produced in 1956 stated that modernisation would help eliminate BR's financial deficit by 1962. The aim was to increase speed, reliability, safety and line capacity, through a series of measures that would make services more attractive to passengers and freight operators, thus recovering traffic that was being lost to the roads. The total cost of the Plan was projected to be £1.24 billion (approximately £29 billion in 2020). The important areas were: