Rail Performance
Debate between Peter Swallow and Louise Haigh(1 week, 3 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Louise Haigh
One of the purposes of this reform was to save the taxpayer money, and bringing operators into public ownership as their contracts expire means there will be no compensation. We will also be saving the money currently leaking out of the system through dividends and management fees. It would not be fiscally prudent in the current environment to spend billions of pounds on nationalising the rolling stock, so we will continue the current arrangement whereby private finance is leveraged into rolling stock companies.
Peter Swallow (Bracknell) (Lab)
My constituents are reliant on a train line between Reading and Waterloo that has seen no improvements to frequency or journey times since the 1970s, so they will warmly welcome the steps the Secretary of State has outlined today to launch a consultation setting out plans for unification across the railway. Does she agree that a modern railway system is an essential step in getting our economy growing?
Louise Haigh
I absolutely agree. For too long, passengers have not been able to rely on the railways, and it has driven people off them. We see in the latest Transport Focus data that people are gradually starting to feel more confident in using the railways, but we have a long way to go to turn the tide on the last 14 years of failure.