Start of East Coast Main Line privatisation marks a costly mistake, says TUC

1 March 2015

Commenting on the East Coast Main Line private contract which starts today (Sunday) TUC General Secretary Frances O’Grady said:

“It is disappointing to see East Coast in private hands after five years of public sector success. The government’s decision to re-privatise the line, awarding the contract to Stagecoach and Virgin, is a costly mistake.

“The government has ignored the evidence, which shows that under public ownership East Coast returned increased profits, has record-high passenger satisfaction levels and has added £1bn to Treasury coffers.

“By taking the East Coast out of public ownership the government is passing the profits to Stagecoach and Virgin shareholders, instead of using the cash to reduce rail fares and improve services for passengers.”

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Contacts:

Media enquiries:
Alex Rossiter  T: 020 7467 1285  M: 07887 572130  E: arossiter@tuc.org.uk