RETURNING RAIL TO PUBLIC OWNERSHIP

Motion Text

That this House notes the damaging legacy of Tory privatisation of the railway; regrets with increasing concern the escalating financial crisis facing the network; notes that despite receiving greater levels of subsidy than under public ownership, half of the train operating companies are technically insolvent and rail maintenance costs have doubled; at the same time is alarmed that whilst services deteriorate the use of public subsidy means that private companies continue to pay out share dividends; whilst welcoming the decision of network rail to bring some maintenance contracts back in house, believes that privatisation has failed the railways; and calls upon the Government to consider a return to public ownership to ensure a better deal for the passenger and taxpayer.