Member

Finally, I wish to speak in favour of new clause 45, tabled by my hon. Friend the Member for Liverpool West Derby (Ian Byrne). The privatisation of British Rail in 1994 was an unmitigated disaster and has left passengers facing some of the highest fares in Europe, alongside persistent issues with service reliability and quality. Railways are by their very nature a monopoly, and they should never have been fragmented and placed into private hands; they should be under public ownership and accountable control, and that principle should expand to rolling stock. In 2023 alone, private train-leasing companies made over £400 million in profit. True public ownership should mean the Bill bringing rolling stock under Great British Railways and passing on savings to passengers.