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Labour will renationalise railways ‘as soon as possible’, says Transport Secretary
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It looks like Labour's sticking to their promises and aiming to take the rails back under public control.
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AIUI, even the Tories' plan post-covid was to wind-down the franchises and replace each of them with concessions as their renewal date arrived. (Examples of concessions are London Overground and London Buses, they seem to work rather well and strike a better balance than both franchises and BR).
There was also a DfT plan to replace all of the disparate branding with "GB Railways" once enough of them were no longer franchises, and possibly tie that to ticketing reform.
It would be very very easy for Labour to inherit that plan and green-light the civil service to just continue as intended. Under such a plan, a hopeful concessionaire would do well to avoid ruining their own reputation by ruining their final franchise.