EconomyLens.com
No Result
View All Result
Wednesday, June 18, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Labour pledges to renationalise UK railways

David Peterson by David Peterson
April 25, 2024
in Economy
Reading Time: 5 mins read
A A
2
23
SHARES
289
VIEWS
Share on FacebookShare on Twitter

Britain's railways were privatised in the 1990s. ©AFP

London (AFP) – Britain’s main Labour opposition on Thursday vowed to renationalise the UK’s much-maligned rail services within five years if it wins a general election due later this year.

Related

UK inflation dips less than expected in May

Taiwan’s entrepreneurs in China feel heat from cross-Strait tensions

US Fed set to hold rates steady as it guards against inflation

Bali flights cancelled after Indonesia volcano eruption

EU chief says pressure off for lower Russia oil price cap

Private companies currently run many of the rail networks but Labour said it would fold them into a single, publicly owned body when their contracts expire.

The announcement marked a fairly rare concrete pledge from the party tipped to win the nationwide vote that is expected in the second half of the year.

Labour has been pretty light on policy detail as it tries not to blow a huge lead over Prime Minister Rishi Sunak’s Conservatives in opinion polls, and return to power after 14 years in opposition.

“We will establish Great British Railways — a single, directing mind to control our railways in the passenger interest,” said Labour’s transport spokeswoman Louise Haigh.

Britain’s railways have been hit by a wave of strikes in recent years caused by cost-of-living pressures.

Train cancellations are commonplace and hard-pressed passengers regularly complain of expensive fares.

Haigh said that transitioning to public ownership would save money by cutting out franchise bidding costs, while still leaving a role for the private sector.

Her announcement was welcomed by trade unions and echoes a similar policy announced by hard-left former Labour leader Jeremy Corbyn.

But it was criticised by the government, which said that privatisation had led to a doubling of train users in 30 years.

Britain’s state-owned railway system was privatised in the mid-1990s under former Conservative prime minister John Major.

But many operators have since come back under public control in recent years due to poor performance and operating costs.

The current Tory government has pledged to create a new public sector body to award contracts to operate trains but it would not be publicly owned.

Sunak is yet to announce the date of the election but it is expected to be held in October or November.

Labour, led by the centrist Keir Starmer, has enjoyed double-digit leads in most polls since Liz Truss was ousted as UK leader in October 2022.

© 2024 AFP

Tags: public ownershiprailwaystransportation
Share9Tweet6Share2Pin2Send
Previous Post

Car giants vie for EV crown at Beijing’s Auto China show

Next Post

London stocks hit new record on blockbuster mining takeover bid

David Peterson

David Peterson

Related Posts

Economy

Spain says ‘overvoltage’ caused huge April blackout

June 17, 2025
Economy

Trump says EU not offering ‘fair deal’ on trade

June 17, 2025
Economy

UK automakers cheer US trade deal, as steel tariffs left in limbo

June 17, 2025
Economy

Global oil demand to dip in 2030, first drop since Covid: IEA

June 17, 2025
Economy

US retail sales slip more than expected after rush to beat tariffs

June 17, 2025
Economy

Why stablecoins are gaining popularity

June 17, 2025
Next Post

London stocks hit new record on blockbuster mining takeover bid

Residents protest as Venice launches five-euro entry fee

Thousands of flights scrapped as French air traffic controllers strike

Turkey central bank holds key interest rate steady

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Made in Vietnam: Hanoi cracks down on fake goods as US tariffs loom

June 18, 2025

Oil rises, stocks mixed as investors watch rates, conflict

June 18, 2025

Iranians buying supplies in Iraq tell of fear, shortages back home

June 18, 2025

Oil prices dip, stocks mixed tracking Mideast unrest

June 18, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.