East Coast profits once again strengthen the case for public ownership of rail

10 September 2014

East Coast saw the amount it returned to the Department for Transport increase by 8% on the previous year. Since the public sector took over the franchise in 2009 following the failure of National Express, over £1 billion has been returned to the public purse to be spent on improving the rail network rather than lining the pockets of shareholders.

ASLEF General Secretary Mick Whelan commented, “The evidence is piling up. Privatising the East Coast franchise is an act of vandalism carried out due to ideology rather than considering the best interests of passengers and taxpayers in the UK. East Coast is one of only two Train Operators that actually posts a net return to the DfT and that amount continues to grow.”

East Coast also achieved the top customer satisfaction result for a long-distance franchised rail operator with 91%. “I defy anyone to look at the facts and argue that selling off East Coast is genuinely the best solution for anyone other than the shareholders of whichever company wins the franchise. We must keep East Coast public and bring in the rest of our network in too,” Mick added.

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