Heidi Alexander’s speech to the Labour conference yesterday included an interesting new policy on rail, an old policy on rail, and a few opportunities to read between the lines in other areas.
Of course, her department stepped in with two public announcements to back her up.
The new and interesting policy is the pledge to explore “buying trains over leasing”, as the Department for Transport (DfT) put it, as it published a Great British Railways’ (GBR) rolling stock and infrastructure strategy.
As Alexander put it:
In 2024, franchised train operators spent over £4 billion leasing and maintaining trains they didn’t own. £4 billion. That around a third of the total day-to-day running cost of operating railway services Every ROSCO contract includes financing and transaction costs and investment returns – costs which are ultimately borne by taxpayers and passengers.
So, as we set up Great British Railways, we will explore whether the state can directly own the new trains we order. Because, I say again, Conference, who should the railways serve? If GBR owning trains would best serve taxpayers and passengers then we should do it.
Many people would agree with this – and that with ROSCOs owning the trains, what is being delivered so far is not true nationalisation.

That didn’t stop the DfT saying that the transport secretary will
nationalise Avanti West Coast services at first opportunity
which isn’t really news as it is happening at the time that it should happen under Labour’s manifesto.
On Heathrow expansion, Alexander’s speech was notable for what it didn’t do – give a full-throated commitment:
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