What does everyone think about re-Nationalising the railways? It's not something I've ever thought about really, but has been the subject of several debates with my mates this last few weeks.
not an expert, but it appears to me that there is a philosophical desire to renationalise (anti privatised assets) from the left
the infrastructure is already in government hands
the rolling stock is owned by a number of franchises, and a plan may be to take them all back when the franchise terms expire
but a number renew 2017-20 so if labour get in in 2020 you'd need to buy back the rolling stock, compensate the companeis who tendered successfully etc. costing hundreds of millions
since privatisation number of passenger journeys has doubled. big investments in rolling stock. fare prices can only rise by less than inflation whereas previously they went up by more than inflation
where more competition has been introduced on the flagship routes eg east coast main line, customer satisfaction is up
across the network safety is at record levels too. wasnt previously with under-invested stock
the competition commission wants to see more routes with more competition. this is beginning out of euston on the west coast main line in 2017 too
not sure how taking the lot back into a monopoly state provider would satisfy the competition authorities either
as long as private investment returns are regulated, which they are, then i would have thought the record and results since the end of british rail would suggest taking it further not leaving it to the state to do a (probably) worse job at cost to the taxpayer