Theresa May mulls major rail review following East Coast fiasco
Plans for a sweeping review of the UK’s rail franchising system are being drawn up by the government, as Downing Street hunts for a way to solve the country’s transport woes without abandoning the use of private operators.
Several sources confirmed to CityAM that Theresa May is strongly considering a review into the UK’s train networks, which is likely to be the biggest of its kind since the privatisation of British Rail more than two decades ago, following the East Coast franchise collapse in May.
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The failures of the East Coast line, which was run jointly by Stagecoach and Virgin Group, has fueled demands for the country’s railways to be taken back into public hands.
However, according to rumours first reported in the Financial Times earlier today, Downing Street has now authorised a review which would examine how to improve the railways while avoiding Labour party calls for full-scale nationalisation.
A DFT spokesperson said: “Privatisation has helped transform our railway – doubling passenger numbers and delivering more services, extra investment and new trains.
“We are absolutely committed to improving journeys and are always examining ways to improve how the railway serves passengers.”