Railways should return to the state - Meacher

RENATIONALISING the railways would slash the cost of living crisis for the travelling public, according to Oldham MP Michael Meacher.

Mr Meacher said it wouldn’t cost anything to take the railway network back into public ownership — despite recent claims by Conservatives it could add at least £10 billion to the UK budget deficit.

Mr Meacher said: “Private rail ownership has produced the highest fares in Europe, extensive overcrowding on commuter lines because of giving priority to dividends for shareholders over investment and quality service for the public, and the need for public subsidies to be doubled to £4 billion a year.”

A group of prospective Labour MPs standing at the 2015 general election says the East Coast mainline - publicly run since 2009 when private operator National Express pulled out of a 10-year franchise deal after two years - shows a better way to run the country’s railways. The line has been making money for the Treasury, said the MP.