Britain’s Railways - Statement

Part of the debate – in the House of Lords at 6:20 pm on 24th May 2021.

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Photo of Lord Young of Cookham Lord Young of Cookham Conservative 6:20 pm, 24th May 2021

Can my noble friend confirm that the key objectives of privatisation—which could have been called the “Young-Major plan for rail”, had modesty not intervened—will be retained? These objectives are: no monopoly in the train operating industry but new entrants encouraged; the capital costs of the passenger rolling stock and freight rolling stock borne by the private sector, not the public purse; and passenger service contracts being constructed to reward efficiency, quality and passenger growth. None of those characteristics is available under full nationalisation.