Wednesday, 1 July 2009

Rail Back in Public Ownership

The East Coast mainline rail service is to be taken back from National Express and into public control and accountability. It's an excellent move, and is in accord with the policy of the Green Party.

Privatisation has been a disaster: Private companies able to keep profits and expect the taxpayer to fund their losses.

It turns out the National Express had set up an 'arms length' stand-alone company called NXEC to run the railway. Why? So they could maximise their profits but then ditch the business if times got tough.

National Express has only been running the railway for two years. What is happening to its Chief Executive, Richard Bowker? Well, he's leaving to become boss of Union Railway, in the Unites Arab Emirates ..........

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