4.4 • 2.1K Ratings
🗓️ 20 May 2021
⏱️ 12 minutes
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0:00.0 | This podcast is sponsored by Canacord Genuity Wealth Management, award-winning wealth managers who go above and beyond to support and guide you. |
0:09.3 | Visit can-dowealth.com to start building your wealth with confidence. |
0:16.5 | Hello and welcome to Coffee House Shots, a spectator's daily politics podcast. |
0:24.0 | I'm Katie Balls and I'm joined by Isabel Hardman and James Forsyfe. |
0:33.2 | And today, what's leading the news is not a variant, but plans for the railways. Isabel, can you talk us through it that government's proposing and why there's been some mockery? |
0:40.3 | Yes, so this is the formation of a new body called Great British Railways, which Transport Secretary Grant Shaps has announced is going to take over timetables, ticketing, prices and |
0:48.2 | infrastructure. And we are going to lose all the different company brands. So everything's |
0:54.1 | going to be under the same |
0:55.1 | GBR logo, although confusingly it only applies to England. So not that great, just English |
1:02.2 | railways. And it is also being mocked because it is initially, superficially sounds a little bit like the Conservatives are stealing another, |
1:14.3 | not just a Labour policy, but a Jeremy Corbyn policy by taking state control of the railways. |
1:21.8 | But it's much more complicated than that. |
1:24.4 | It's not a re-nationalisation of the railways because these private |
1:29.1 | companies will continue to operate the different lines themselves, much in the same way, |
1:34.3 | actually, as TFL is the umbrella body for different services which are run by private companies |
1:41.5 | on different lines. But things will change. So the companies will only be |
1:46.0 | paid if the trains are on time and clean. But on the flip side, the government, the companies, |
1:51.6 | sorry, will bear far less risk if passenger numbers fall, which has obviously been something |
1:56.4 | that they have struggled with over the past year because no one's been getting the train |
2:00.1 | because everyone's been at home in lockdown. So there are various sort of political aspects to this |
2:07.2 | and branding glitches as well which make it interesting. But it's not a re-nationalisation. And |
2:13.8 | neither is it something that is guaranteed to bring fares down. So you might ask, why bother? |
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