The hon. Gentleman is wrong. He talks about the dividends that are paid, but he fails to remember one important point, which is the amount of investment brought in from the private sector through the franchising process. That has totalled £10 billion. Would the Labour party take that from taxation or other spending areas? Where will that money be found if we do not bring in private sector investment? Those are great questions which the Labour party is not addressing in its ill-thought-through, uncosted attempts at nationalisation.