Comments: Network Rail reveals 758 million loss

Make a profit in the next five years. Take away all government subsidy and this company would lose billions a year. Notwork Rail is bankcrupt end of story. It should be put out of its misery.

Posted by Amir at June 2, 2004 09:00 PM

Given debts in excess of 12 billion and the interest payments on them, the 758 million operating loss is being somewhat selective with the figures methinks.

Posted by Mark Ellott at June 3, 2004 11:17 AM

Also I'd like to point out this is twice the amount of debt than what railtrack owned. The government said it would cost less than Railtrack. It's funny people don't like subsidising shareholders but they're quite happy when it costs twice as much but no profit being made. Just like i said no profit motive means how much can we lose and rip off the tax payer this time around. John Armitt gets 1/2 mil. This is fat cat in all proportions.

When are people gonna see that the government are complete and utter crooks! The Tories had a good idea for full tube privatisation.

Why are poople so fooled?

Posted by Amir at June 3, 2004 05:57 PM

Amir - part of the reason might be that Notwork Rail is actually doing maintenance, and isn't lying about its costs (cough - WCML upgrade - cough).

I'm sure you're right that part of the reason is total incompetence and corruption, but I've seen no evidence that Railtrack was any better.

Posted by john b at June 5, 2004 02:48 PM

John B I agree with you. Railtrack wasn't better. Well I don't think so anyway. But these costs cannot be that high. BA survived Spet 11th and managed on cocst cutting its shares were well down. So if rail companies were fully private that means they own infrastructure and maintaned it themselves because it would be smaller it would be easier to manage. Rather than TOC go through Notwork you wouldn't need to. Also it eliminated the blame culture. You cannot blame for a TRAc circuit failure as its your infrastructure that has failed so no where to hide. This would eliminate the TOC to claim for failure. Also the longer it stays broken the more money the TOC will lose in delays to trains. All the money for this delays should go into a fund that then goes back into the rail system and not profit.

It would work because it does in Japan and thats how historically are railways were structured. LNER, GWR etc...

This government wants it to be messed up so they can put their cronies and fat cats in charge so they can milk the system. At least with private companies shareholders money is risked and not taxpayers.

Also people say excesive profits. But companies that earn profit pay capital gains tax. Tesco earned 1.6 bil profit. They paid 200 odd million in tax. If Tesco made no profit the government are 200 mil down on tax. Where do people think this shortfall is being made up. Higher taxes. I rest my case

Posted by Amir at June 9, 2004 12:05 AM