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- W606509112 abstract "This article discusses the extension of the Midland Mainline (MML) franchise in the English Midlands, and its author argues that it represents a significant and welcome policy shift in financing future expansion in rail travel. MML won two more years on its current ten-year franchise, in return for agreeing to introduce a fleet of high-speed tilting trains on its routes to Nottingham, Derby, and Sheffield. The new trains are to be funded by allowing MML to divert the franchise premium payments, which would have gone direct to the UK Treasury, into leasing payments for the new trains. In many ways, this new deal completely reverses one of the key principles of the original UK rail privatisation plan; there is no reason why it cannot be used as a basis for similar initiatives. It has established the principle of using rail industry money to enhance the British rail network. The Strategic Rail Authority (SRA) had to win this battle, to have any chance of providing enough funds to regenerate the network, which had been starved of investment. The new mechanism should be able to convert payments by train operating companies (TOCs) into tangible passenger benefits such as new trains, but its rewards should go only to TOCs, like MML, which are prepared to take risks and really begin to expand the system again." @default.
- W606509112 created "2016-06-24" @default.
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- W606509112 date "2000-09-01" @default.
- W606509112 modified "2023-09-23" @default.
- W606509112 title "FULL-TILT BID SETS A FRANCHISE FIRST" @default.
- W606509112 hasPublicationYear "2000" @default.
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