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Privatising GB Railways cost £5 billion a year and increased fares

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EvadingGrid

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The Independent


Privatising Britain’s railways cost taxpayers £5 billion per year and increased fares, Labour claims
http://www.independent.co.uk/news/uk/politics/trains-railways-fares-privatisation-labour-5bn-john-major-nationalisation-a8617321.html





'The 'catastrophic' privatisation of Britain’s railways has cost the taxpayer £5bn per year and driven up fares by 20 per cent, Labour has claimed.

Analysis released to mark the 25th anniversary of the legislation that privatised British Rail suggests government subsidies of the railways have increased fourfold since 1993.

And since 1995, shortly after British Rail began to be sold off, fares have increased by an average of 20 per cent in real terms, while some routes have seen a much bigger rise. Spam_A Spam_B Labour said the cost of a peak-time single ticket from London to Manchester has increased by 238 per cent, from £50 to £169 – three times the rate of inflation during the period.

A single fare from London to Exeter has rocketed from £37.50 to £129.50 – a rise of 245 per cent – while a ticket from London to Swindon has more than trebled, from £20 to £66.

The party said the “catastrophic” figures highlighted the need to renationalise the railways.

Andy McDonald, the shadow transport secretary, said: “Twenty-five years on it’s clear that rail privatisation has been a catastrophic failure, with the taxpayer putting in even more money to the privatised system than when it was nationalised.

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“Labour will take our railways into public ownership to improve services and cap fares, running them in the interest of passengers, not for private profit.”'



Read More : Privatising Britain’s railways cost taxpayers £5 billion per year and increased fares, Labour claims



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