Ten Years have passed since the Railways Act 1993, the legislation passed by John Major's Conservative government that brought about the most dramatic upheaval ever to affect a national railway. Just three years later Transport Minister John Bowis was trumpeting the benefits of the transformation: 'a railway run by the private sector means new trains, better services, cheaper fares, massive investment and enormous savings for the taxpayer.' New trains there may be, although in parts of southern England their introduction must await an upgrade to the power supply. Some routes do have better and more frequent services, but performance levels in terms of punctuality and reliability continue to cause concern. Of the other claims, the last has proved most illusory. So much so, in fact, that rail businesses in the UK are reeling from a cost explosion which, if not brought under control, threatens the future of the entire industry.
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