MoneyWeek

Labour’s plans to nationalise rail

What’s the plan?

Without once using the word “renationalisation”, Labour has confirmed its long-standing plan to take the whole of Britain’s passenger rail network back into public ownership within a first five-year term, if elected. It’s not going to do this in one big bang: it’s simply going to fold each remaining train operating company into state control as their franchises expire. In some cases, it will need to use break clauses to end contracts early. The result is that companies currently running trains on the British rail network, including First Group, Transport UK (formerly

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