UK railway privatisation, which was launched in the mid-1990s, has finally turned full circle: the Department of Transport has recently confirmed that its controversial railway franchise system will be scrapped.
In this month's feature article, Nigel Hawkins, the Infrastructure analyst at Hardman & Co, examines the 25-year history of railway privatisation and chronicles its ups and its downs. The successes of railway privatisation, such as new rolling stock, are addressed, along with the many shortcomings, which included minimal vertical integration.
With the winding up of the franchise system, the UK railway sector is effectively reverting to its former status as a nationalised industry, a shift started with the renationalisation of the collapsed Railtrack – later re-badged as Network Rail – in 2001.
01 Mar 2021
THE MONTHLY March 2021
Arbuthnot Banking Group PLC (ARBB:LON), 1,080 | BBGI Global Infrastructure S.A. (BBGI:LON), 130 | City of London Investment Group PLC (CLIG:LON), 315 | ICG Enterprise Trust PLC GBP (ICGT:LON), 1,193 | Oakley Capital Investments Ltd Registered (OCI:LON), 466 | Palace Capital plc (PCA:LON), 230 | Phoenix Copper Ltd. (United Kingdom) (PXC:LON), 10.8 | Real Estate Credit Investments Limited (RECI:LON), 115 | Surface Transforms PLC (SCE:LON), 9.2 | Tissue Regenix Group plc (TRX:LON), 62.5 | Urban Logistics REIT plc (SHED:LON), 115 | Volta Finance Limited (VTA:LON), 490 | Pantheon International Plc (PIN:LON), 318
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THE MONTHLY March 2021
Arbuthnot Banking Group PLC (ARBB:LON), 1,080 | BBGI Global Infrastructure S.A. (BBGI:LON), 130 | City of London Investment Group PLC (CLIG:LON), 315 | ICG Enterprise Trust PLC GBP (ICGT:LON), 1,193 | Oakley Capital Investments Ltd Registered (OCI:LON), 466 | Palace Capital plc (PCA:LON), 230 | Phoenix Copper Ltd. (United Kingdom) (PXC:LON), 10.8 | Real Estate Credit Investments Limited (RECI:LON), 115 | Surface Transforms PLC (SCE:LON), 9.2 | Tissue Regenix Group plc (TRX:LON), 62.5 | Urban Logistics REIT plc (SHED:LON), 115 | Volta Finance Limited (VTA:LON), 490 | Pantheon International Plc (PIN:LON), 318
- Published:
01 Mar 2021 -
Author:
Hardman & Co Research Team -
Pages:
29
UK railway privatisation, which was launched in the mid-1990s, has finally turned full circle: the Department of Transport has recently confirmed that its controversial railway franchise system will be scrapped.
In this month's feature article, Nigel Hawkins, the Infrastructure analyst at Hardman & Co, examines the 25-year history of railway privatisation and chronicles its ups and its downs. The successes of railway privatisation, such as new rolling stock, are addressed, along with the many shortcomings, which included minimal vertical integration.
With the winding up of the franchise system, the UK railway sector is effectively reverting to its former status as a nationalised industry, a shift started with the renationalisation of the collapsed Railtrack – later re-badged as Network Rail – in 2001.