Some people will feel Labour’s pledge to return the railways to public ownership is a long overdue return to traditional Labour policies. Others might be worried we are getting nostalgic for the past. Labour’s transport team has a simple message for everyone – this is about building a better railway by being able to provide better services across the country. This includes in many marginal constituencies, where the problems faced by commuters are amongst the primary political issues raised.
Although this will inevitably be seen as a battle of public versus private, Britain’s privatised railways are already under considerable state control. Railways are, frankly, too important for any government to ever really walk away from, and cannot ever be run as a free market. The Department of Transport and its ministers have a major say in fares, rolling stock, stations, timetables and more. Any railway system requires subsidy, and at around £4bn a year (double the cost of what British Rail received once inflation is accounted for) the Government’s financial support for Britain’s railways is considerable. In addition, and unlike in the privatised utilities, nearly all investment in our rail network still comes from taxpayers and farepayers.
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