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No is the simple answer.
What will it actually achieve? Absolutely nothing other than add costs to an already heavy cost of running the railway. Currently the TOC’s are no more than franchise owners, they don’t own the track, it is Network Rail which is owned by… Ummm the government. The time tabling is dictated by…. Ummm department for transport. Do the TOC’s have freedom to charge what they like… No they don’t have complete freedom.
We have far more frequent services than 20 years ago and the levels of passengers travelling are higher than preBeeching. Which despite the fact that privatisation of the railways is a mess and always has been shows that in that mess the operators have provided a service which has attracted more passengers than ever before.
As for PFI, well that was good old Tony Blair and co that came up with that idea which will cripple the ECML and GWR for many years, just like it has with the new hospitals.
The left dogma is always that they think the railways will be better off under government control where customers come last and unions come first.
The cost of nationalisation would be colossal, just goes to show how the looney left set their priorities, rather spend billions on taking control of the railways than using the money to pay the counties debt.
Privatisation was rushed and should never have been done in the way it was. The way it should have been done IMHO is that it should have been on a regional basis such as Southern, GWR, etc and all stock, stations and track with it.