Research undertaken by CRESC, Manchester, estimate that the private train companies are taking out £2.47 for every pound they put in.
http://www.theguardian.com/commentisfree/2013/nov/04/rail-privatisation-train-operators-profit
Corporate welfare General
FirstGroup reaps dividend despite rail franchise surrender
FirstGroup made a £40m dividend from Great Western Railway (GWR) last year, despite previously exiting its GWR contract to avoid paying £800m to the government. FirstGroup has run GWR since it was privatised in 2006. […]
Corporate welfare General
Private finance initiative for elderly care in Northamtonshire: A good example of a bad PFI contract.
A recent BBC article has shed light on yet another failed PFI contract – this time, involving elderly care in Northamtonshire. Looking at the results of Northamptonshire’s Stabilisation Plan, the BBC report discussed how the 25-year contract […]
Corporate welfare General
Crime soars under outsourced probation service
Serious crime committed by offenders on parole increased by 50 per cent following the Government’s reforms to the probation service. The official data for England and Wales refers to Further Serious Offence reviews (SFOs). An […]