UK Government official records

Labour's £1.5 Billion Rail Renationalisation Bill Passes Second Reading

Jul 29, 2024, 05:00 PM

The UK Labour Government has introduced the Passenger Railway Services (Public Ownership) Bill, marking a significant shift towards renationalising Britain's railways. This legislation aims to bring private rail franchises into public ownership as their contracts expire, addressing the perceived failures of the 30-year privatisation experiment initiated under John Major. The bill, championed by Transport Secretary Louise Haigh, promises to make the railways passenger-focused, publicly owned, and fit for the future, contributing to the goal of reaching net-zero emissions. Labour MPs and rail unions, including ASLEF and RMT, have widely supported the bill, emphasizing its potential to reinvest £1.5 billion annually into the rail system, improve services, and make fares more affordable. The bill has successfully passed its second reading in the House of Commons, signaling the beginning of the end for the privatised rail system.