The next general election is scheduled to be held on May 2, 2024.
The publicly owned body was hailed by Boris Johnson as the answer to a quarter of a century of frustration with rail franchises recently as May.
The Prime Minister said: “For too long passengers have not had the level of service they deserve.”
Grant Shapps, the Transport Secretary, added: “Great British Railways marks a new era in the history of our railways.”
The Conservative MP for Blackpool North and former rail minister, Paul Maynard, said: “Great British Railways is a massive opportunity to put our rail system in the right place. But the Government will need to be clear what benefits will be seen when, and not lose sight of the passenger interest in the very complex work of constructing a new system.”
Mr Shapps is also expected to announce at the Conservative party conference that GBR’s headquarters will be based outside of London and invite towns and cities to apply to house new body.
A spokesman for the Government said: “These reforms are vital and we will not rush their introduction.”