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I would go for nationalisation as well. It doesn’t need to cost a fortune if done over time.
I think the bit about “attracting passengers” is a bit of a myth. Most of the operators have monopolies or near monopolies so there is no real choice. If you want to do somewhere you have to grin and bear it.
Nationalisation would ensure that the money currently extracted in profits is reinvested in our railways rather than into the networks of the foreign state industries who seem to own half our infrastructure.
Plus when it comes to the annual Christmas engineering shambles it’s not as BR could do any worse….