The hon. Gentleman may say, "More scaremongering," but he should go to speak to the private sector Railway Industry Association to find out what it thinks of the Government's performance, rather than mouthing nonsense from behind the Minister.
Could the Minister tell us why, while every airline in the world uses leasing to acquire new planes and every European railway uses leasing to acquire new railway stock, we are still talking about a single leasing contract being authorised by the Government, while the west coast main line is starved of investment and, all over the country, local authorities want to be involved in new rolling stock deals?
Will the hon. Gentleman give the House an assurance that, before we have anything of the new leasing companies, there will be a more positive approach to leasing to acquire new rolling stock, thereby saving jobs? There is no need for the fragmentation of the railways or privatisation to get leasing schemes going and investment in railway rolling stock.