We tackle the 4 biggest ‘myths’ of UK rail privatisation in our new #PoliticsExplained video.
Myth #1: Increase in Passengers.
Private railway networks are suggested to increase passenger usage, but there are many other factors that could also suggest an increase in passengers.
Myth #2: Privatisation led to Innovation and Investments.
Most railway investments are financed by a public organisation, Network Rail, and not privately-owned investments. The private rail companies also gains investments from taxes and public money: £10.6 billion to be exact via Government subsidies.
Myth #3: Service isn’t Cheaper or Better.
Compared to publicly-owned rail services in Europe, the private rail network in the UK is slower. Since privatisation, ticket fares have also increased.
Myth #4: Better for the tax payer.
Since privatisation the cost of running the railway has in fact doubled. The UK Government, and thus tax payer, also puts more money into the railways than most of the private railway companies return to them in franchise payments.
Figures taken from Action for Rail campaign. Special Thanks to the TUC.