Renationalisation of the railways is not the solution; just look at Network Rail
2 January 2019
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Dr Richard Wellings appears on BBC Radio 5 Live
Dr Richard Wellings, Head of Transport at the Institute of Economic Affairs has appeared on BBC Radio 5 Live to discuss the latest rail fare rises.
In the interview Richard argues that there is a problem with a fragmentation of the railway industry – it’s hugely inefficient. The wrong model of privatisation was chosen but there’s no reason why the industry can’t be reintegrated and simplified under the private sector.
The tracks themselves were renationalised in 2002 and that hasn’t been a success. There’s been endemic mismanagement, massive cost overruns on key projects so that should be a warning that nationalisation is not the solution and we should instead move towards more private sector involvement not less.
Listen to the full interview here. Richard’s segment begins at 23.20
In the interview Richard argues that there is a problem with a fragmentation of the railway industry – it’s hugely inefficient. The wrong model of privatisation was chosen but there’s no reason why the industry can’t be reintegrated and simplified under the private sector.
The tracks themselves were renationalised in 2002 and that hasn’t been a success. There’s been endemic mismanagement, massive cost overruns on key projects so that should be a warning that nationalisation is not the solution and we should instead move towards more private sector involvement not less.
Listen to the full interview here. Richard’s segment begins at 23.20
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