Nationalisation by anther name

[Guest]

"Network Rail will be reclassified as a government body in 2014 as part of a package of changes to the public finances, adding £30bn to Britain's national debt, the Office for National Statistics (ONS) has announced."

"Because the government plays a significant role in overseeing Network Rail, through the Office of the Rail Regulator, and the taxpayer would inevitably be left picking up the bill for keeping the trains running if Network Rail collapsed, the ONS says it is best considered a "central government body"."

"That will bump up public sector net debt for 2012-13 by approximately £30bn, or 2% of GDP, when the change is implemented next year – and will fuel the debate about the size of the public subsidy for the railway network."

http://www.theguardian.com/business/2013/dec/17/network-rail-public-body-uk-national-debt

A necessary thing most probably but a good thing?

[teamsaint]

Hmmm, looks dodgy to me.

Since they presumably can't or won't leave the railways to the market forces, they can absorb the losses into the annual spending round, meaning justification for more savage cuts elsewhere ?

[Eine Alpensinfonie]

It's only a confirmation of reality, but with the advantage that there's no need to pay shareholders anything as with the privatised franchises.

[amateur51]

I didn't have any of the current political parties down as keen nationalisers, least of all the Tories.

[aka Calum Da Jazbo]

I didn't have any of the current political parties down as keen nationalisers, least of all the Tories.

oh but they are when their chums and kith and kin's banks are losing dosh eh?