The Railway Dilemma - The Perpetual Problems of Ownership, Costs and Control

Railways in Britain are booming. Passenger and freight traffic totals are rising every year, and major investment has been approved by the Government and major infrastructure schemes lie ahead. Yet the industry is moving towards another crisis which could explode within the next ten years as any upgrading relies on borrowing which is becoming increasingly unsustainable. The author traces the history of the perennial problems of ownership, costs and control in Britain's railways from its beginnings, the increasing threat of competition from road transport and the decline in passenger traffic and the profitable freight haulage together with oscillations between public and private ownership. Arguably, the railways have never been profitable and today, despite rising passenger numbers, a familiar controversy surrounds the amount of public money which should be provided for the industry. This is a topical and thought-provoking examination of all the issues faced by the modern rail industry.