Headline News

摘要

The Labour Party's newly elected leader, Jeremy Corbyn, is due to unveil plans on how the railways would be re-nationalised - if he becomes Prime Minister. However, there are plans that could see the privatisation of Network Rail once a review has been completed. Unless a snap general election is called, the earliest Mr Corbyn might become Prime Minister is May 2020. However, in the period from 2020, five of the 16 current franchises are due to expire before 2025. This would include the current East Coast, Southern, Chiltern franchises and the next Northern and TransPennine Express franchises, which are about to go out to tender. Mr Corbyn's plans are for franchises to be taken back under Government control as they expire, but with less than a third ending within the five-year period from 2020-25, the result could be a very messy and confused railway system. Neither is it clear where the rolling stock companies would sit if re-nationalisation goes forward. Under British Rail, it owned the stock and infrastructure, but suffered from lack of innovation and procurement on the cheap. Now rolling stock is carefully sourced and owned by banks and pension funds, which are unlikely to give up their assets cheaply. There might also be issues under EU legislation.