It will be the “biggest overhaul to our railways in a generation.”
The Labour Party has said that it will renationalise the railways if elected, in what it calls the “biggest overhaul to our railways in a generation.”
Under Labour’s proposals, train companies would be brought back into public ownership and run by a new body, Great British Railways, as their privatised contracts expire. Crucially, the plan will nationalise the network “without the taxpayer paying a penny in compensation costs”, the party is expected to say.
Shadow transport secretary Louise Haigh said: “Labour will deliver the biggest overhaul to our railways in a generation. Whilst the Conservatives are content to let Britain’s broken railways fail passengers, Labour will deliver root and branch reform.
“With Labour’s bold reforms, a publicly-owned railway will be single-mindedly focused on delivering for passengers and will be held to account on delivering reliable, safe, efficient, accessible, affordable and quality services.”
The party has also pledged to guarantee the cheapest fares, as well as setting up a watchdog, the Passenger Standards Authority, to scrutinise the new system.
Haigh said: “After years of dysfunction and waste our broken railways are unfit to meet the needs of modern Britain. Passengers and taxpayers alike are being failed, and our economy is being held back. Doing nothing is simply not an option.
“Labour’s detailed plans will get our railways back on track; driving up standards for passengers, bringing down costs for taxpayers, driving growth and getting Britain moving.”
The move has been welcomed by the RMT union. Mick Lynch, RMT general secretary said: “Labour’s commitment to bring the train operating companies into a new unified and publicly owned rail network is in the best interests of railway workers, passengers and the taxpayer.
“We strongly welcome these bold steps to fix 14 years of Tory mismanagement of our privatised railways and Labour’s promise to complete a transition to public ownership within its first term in office.
“For too long private companies have made millions in profit from taxpayer subsidies and in return provided appalling levels of service.”
Basit Mahmood is editor of Left Foot Forward
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