South-Eastern Rail Franchise
Debate between Helen Whately and Andrew Jones(5 years, 7 months ago)
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Andrew Jones
The Pensions Regulator is an independent body and the pensions that we are talking about are those of private companies, so the role for the Government is not a direct one. Operators are currently liable for the full pensions risk during their franchise term. These competitions—including the east midlands competition, which was mentioned by the hon. Member for Nottingham South (Lilian Greenwood)—included a risk-sharing mechanism with the Government that actually reduced the risk to which operators are exposed. Under this mechanism, the operators retain risks that they are able to manage. There have been some changes, but they are about risk-sharing for the future; so there was a notable change in the franchises.
Helen Whately (Faversham and Mid Kent) (Con)
It is disappointing that, like so many Southeastern trains, the south-eastern franchise is itself delayed. My constituents expect the new franchise to give them improved services, to reduce overcrowding, and to introduce Delay Repay 15, smart ticketing and flexible season tickets, which are all really important. Will my hon. Friend ensure that, although the franchise is delayed, these improvements will not be? Could they be introduced in advance of the new franchise, rather than our having to wait for so long?
Andrew Jones
I will have a look at my hon. Friend’s point. The key benefits that have come into our rail services over the past few years have come in through the franchising process, as it has brought in private investment. That investment has purchased or leased new rolling stock, which has meant a transformation across the country for the travelling public. My hon. Friend is as impatient as I am that the benefits that we are seeing come to fruition for her constituents, and I will of course work to deliver them as fast as possible.