- Transport secretary Grant Shapps’ proposals could severely hit companies that have long profited from the UK’s flawed train system
- Trainline’s shares shed a fifth of their value on the day of the announcement
In 1994, the Conservative government began the rapid privatisation of the British train system. Now the party of Margaret Thatcher is bringing the railways back under state control.
On Thursday, transport secretary Grant Shapps unveiled his grand plan to end “three decades of fragmentation”, absorbing the network under a single brand, Great British Railways. The public body will set timetables, fix fares and simplify ticket booking by introducing new ways to pay.