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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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Logistics |
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| Re-nationalisation mooted as state takes over failed rail line |
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Date:2018-05-18 Readers:
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THE British Government will take control of
a London-Edinburgh rail line, raising the question of whether the
railways should be re-nationalised, reports Bloomberg.
Stagecoach Group Plc and ally Virgin Trains will be stripped of the East Coast Main Line
contract on June 24, with the route placed under the control of an
"operator of last resort", Transport Secretary Chris Grayling told the
Commons.
The collapse of a franchise awarded in 2014 marks the third time in a
decade that private companies have bailed out of running the 400-mile
line.
Mr Grayling said that while there'll be no nationalisation, East Coast
will be recast as a partnership between public and private sectors.
The opposition Labour Party favours taking the UK network back into
public ownership, with its lawmakers immediately challenging Mr Grayling
and saying the latest failure shows that the franchise model is
fundamentally flawed.
http://www.shippingazette.com/menu.asp?encode=eng
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