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This report is from the CNBC’s British exchange papers of this week. Every Wednesday, Ian King brings expert concepts about England’s most important business stories and other key developments you do not want to miss. As you can see? You can subscribe here.
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About 31 years after its privatization, Britain’s railways return to public property.
The country’s railway roads, stations, tunnels and signals were extracted effectively in 2002, but the policy of the current business management is elected last year, trains themselves to the state.
Only the rolling shares – coaches, locomotives and trucks – and the majority of railway cargo operators, you need to stay in personal hands, except for the future.
Accordingly, in May this year, the railway Franchise, who was responsible for trains to London Waterloo – was returned to the South Western railway – state property.
Accordingly, for the British Railin’s useless trains and some age-in-year-old British, which remembered before privatization, the first nationalized service held a railway change bus.
The renamication process is carried out in the late this month, while working in the coming months of this month, it is carried out to state ownership with a larger Anglia operating in the east of England.
Four operators – London North East Rail (LNER), North, Southeast and Transpennine Express – already promised to refer to the state of the private railway franchises in the end of this parliament.
In addition, a new institution intends to combine the separation of train operations in the UK railways, UK railways, privatization.
A linat train at the king’s cross station.
Sopa Pictures | Lightrocket | Getty pictures
But this is not the end of the story.
If the debate is still a successful or absence of the privatization of the rels, it has led to a lot of passenger numbers and a better rollover share; On the side of the flip, it caused higher proportions – most industrial experts are the emergence of “open entry” operators.
These are now competing with the government with franchised operators who sign a contract with the government to manage services. Unlike franchised operators, open access operators take the risk of tickets and other income and other income.
Their presence was connected with London with Edinburgh and felt the most on the eastern Midlands and eastern Midlands and the east coast in the north-east of England.
Lumo and hull trains bring the tariffs to increase the standards and falls down. Significantly, the main line of East Coast is the only part of the British railway network, where passenger numbers are pre-pandemic levels.
Despite these achievements, open access is generally not popular. Britain’s strong Railway Unions hate this Thus, it has long been suspected, the transport department is officers (DFT). He payed more attention over the past year because there is one over the past year Save the number of applications Companies are made to operate trains under open access.
This, the new transport Secretary of Heridi Alexander, Gathered in January, DEClan Rail and Road (ORR), the chairman of the office for the industrial regulator, the chairman of the office, received more serious approach toward open access applications.
The railway network for new services took into account that there is a sufficient power in the railway and the concerns that the opening operators did not meet the full value of the road. He said he was aware of whether he was deprived of the existing operators.
This increased concerns to protect the proposal of the Iskender’s railway unions and protecting state facilities such as an LNER from the competition explosion. At the end of June, Richard Goodman, one of the older officers in DFT, has increased these concerns when they write to colleaut Strengthen Iskender’s message.
“DFT analysis shows that each of the live open access applications will be up to £ 229 million (24/25), which is not accounting for the interaction of the annual abstraction of these services,” he said.
“This represents a significant value to taxpayers and will materialize funds for the Secretary of State.”
Some saw this letter as an attempt to discourage ORR to confirm new applications.
If it was intention, it seems like tactics worked.
Last week, ORR rejected the applications of three companies seeking tracking agreements with network rails to serve large cities with network rails with network rails with network rails and network rails with Network Rail.
Explaining the decision, ARR, Stephanie Tobyn said: “It was clear that there was no enough to confirm the level of train performance on the west coast of the traveler without serious adverse effects.”
The introduction of the introduction of the introduction of the application was the previous and popular and popular – a popular and popular and popular – the Western coastal main line called “Consumer Selection and Competition” decision.
The news also disappointed the enterprises in the country by the existing network. To use a good example, a new operator, Wrexham, Shropshire and Midlands, Shropshire and London, a new operator and a new operator, Shropshire and the Midlands are a strong support for the Midlands rail.
All this raised the fears of the railway Minister Peter Hendy, which is an Alexander and an industrial facility, will be very expensive to be expensive again.
In turn, the transport department says this is a lie.
“We support the open access services that they encourage growth and provide more options for passengers,” a DFT spokesman told CNBC. “However, the open access should not cost the taxpayer or adverse effect.”
Geographical division
The dispute around the open access can lead to an interesting collision within the government.
Alexander, now Wiltshire’de MP for Swindon, both local and national politics held his whole career in London. Hendy, both his career in the capital, works mainly for London and its predecessor to transport to London. Thus, thoughts on the railways were informed by the transport system of the capital, which is very different from the rest of the country.
Home Secretary Yvette Cooper and Educational Secretary Bridget Phillipson, can be an alternative idea. The couple will know the constituency in Yorkshire and northeastern constituencies and will know how popular opening operators are popular among their components to maintain and reduce prices.
They can also support the support of the Chancellor Rachel Reeves in the constituency – Yorkshire’s largest city is still enjoying the direct service provided by the open access operator.
Like Alstom, Siemens and Hitachi, deputies that round the stockbrokers, which support thousands of qualified production work, can also be supported by open access.
Alstom and Siemens were warned of a failure to sign the decline of new orders, and Hitachi won the £ 500 million contract to deliver 14 new trains in December last year.
In any case, Alexander and Handy have other priorities. For example, when the British railways officially start or not, it is unknown who will be the executor.
There is also a project that has a project in HS2, first a project that intends to build a new high-speed railway between London and the UK’s Midland and the northern cities, but England Just run to Birmingham Billions of pounds for both years, both years and budget.
Meanwhile, when railways are close to illuminating their daily work expenditures before the pandemic, there are since the taxpayer subsidies are charged.
In 2022-23, the last year, the state support for the railways, 64.5% in the railway, 64.5% before the pandemic, and passenger revenues fell 31%, 31% in pandemic levels.
The growth of home is to be restored in pre-pandemic levels, which means increasing growth. This means that if total passenger numbers will be reset, railways should do more to attract recreational travelers. These are an open access operators in the tariffs and services, this is an ideal suitable work.
– Ian King
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In the markets
UK FTSE 100 Growing up a stylish way in the last week, about 0.65% was temporarily reduced from the record received from the record in June 0.35%.
If you miss, the London gathers funds from IPOs slipped at least a three decades down In the first half of this year – to collect fresh questions about the charm of England as a center for global capital.
Financial Times Exchange 100 index over the past year.
Accepted Lack of strong support Last week, the British Currency and the Government bond market for the British Minister of Finance. This English pound It currently trades between $ 1.37, $ 1.35, where there is before June 1.
Similarly, Gives a gentle product Currently, trade in 4.63%, the level of trade should still be left behind before the start of the parliamentary show.
