Jeremy Corbyn’s pledge to renationalise coupled with Nicola Shaw mulling full privatisation sets off a long overdue debate The fact that calls to nationalise and privatise Britain’s railways can make headlines on the same day highlights the weird universe the industry inhabits. It is a world of baffling money flows,peculiar structures straddling the public and private sectors, and all parties colluding in the pantomime so long as the money pours in.
The novel Labour leader, or Jeremy Corbyn,reaffirmed his pledge to bring rail fully under state control, returning each train line to public sector operation as their franchises expire. He would also replace the less visible tier of the industry’s money-go-round, and the rolling stock companies – bank-controlled entities that own and lease the trains – with a long-term public investment strategy.
Continue reading...
Source: theguardian.com