Wed, 04 Dec 2024

Wed, 04 Dec 2024 Three rail firms to be renationalised next year

The rail operators will be renationalised in May, as part of the government's manifesto promise.

* Three rail operators: South Western Railway, C2C, and Greater Anglia will be renationalised by Labour in 2025.
* Renationalisation will improve reliability and save £150m per year in fees, but is unlikely to bring down fares for passengers.
* Transport Secretary Heidi Alexander said that people are "willing to pay for a good service", but also acknowledged the importance of affordability.
* Critics argue that public ownership alone will not make a difference unless paired with fresh investment in the railways.
* The move is part of Labour's plans to renationalise rail services as operators' contracts end or reach a break.
* Rail fares are due to rise by 4.6% from March, and Transport Secretary Heidi Alexander said this would be the "lowest absolute increase for the last three years".
* Renationalisation will see the creation of a new arms-length body, Great British Railways (GBR), which will take over service contracts currently held by private firms.
* GBR will eventually take over responsibility for maintaining and improving rail infrastructure from Network Rail.
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