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£36bn of taxpayers' money on our railways by 2014

29 May 2007 - JG

It seems that people are not entirely happy with the way the railways are run in this country and over 50% of you wanted to see them privatised. An underwhelming 12% wanted to see them renationalised. 35% were happy with them the way they are. Whatever the result of the Picking Losers' poll, it seems we will have to pay up front for the railways for the foreseeable future. In spite of inflation busting rail fare rises, the government expects them to keep on rising over the coming months and years. It is ordering over 1000 new carriages to cope with the rising congestion and our fares will cover the £1bn cost. Network Rail is also asking for a further £28bn to spend between 2009 and 2014 - out of our pockets again. It is also expected that over the coming days the government will give the go ahead to the £500m reconstruction of Birmingham's New Street station and are close to approving a £3.5bn overhaul of the former Thameslink route through London. Finally, it is being reported that Gordon Brown, who is a fan of Crossrail, will stump up £3bn worth of taxpayers' money to help meet the £10bn costs. £36bn of taxpayers' money on our railways over the next few years (and that's only 5 projects!) - no wonder over 50% of you wanted to see more privatisation.

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