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Railhub Archive 1996-02-05 DoT-001 Department of Transport0
Sir George Young hails launch of first privatised passenger rail services
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 British Rail
 
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         Sir George Young hails launch of first privatised passenger rail services _______________________________________________________________

 related documents
type Press release
Sir George Young, Secretary of State for Transport, marked the historic launch of the first privatised passenger rail operations in a ceremony at Waterloo today.
Welcoming the re-introduction of scheduled private passenger operations after almost fifty years, Sir George commented:
"Today, for the first time in almost half a century, thousands of people will find their regular rail services being provided by private sector companies. I believe they will find services improving and standards rising."
He congratulated the new franchise holders for winning the competition to run the services, and praised the dedication and professionalism of all the individuals and organisations that enabled the handover to proceed so smoothly. Sir George also presented the seals of the companies to the Managing Directors of the new franchisees, and received in return copies of their new Passenger's Charters. Welcoming the new Passenger's Charters he said:
"Their new and improved Passenger's Charters are more than a symbolic gesture. They are proof positive of the privatised railways' determination to provide passengers with a better service. Plans for improved rolling stock and new services, delivered for less subsidy from the taxpayer over the life of the franchise; these are the early fruits of privatisation."
Moving on to the progress of the privatisation programme as a whole, he continued:
"Add to this the privatisation achievements we have seen in other parts of the industry over the past four months and you see the beginnings of a virtuous circle emerging; better service, more passengers and freight, increased revenues, new investment leading to further improvements in service."
He concluded by saying:
"I am increasingly convinced that the importance we have attached to this policy is beginning to strike a chord with a public determined to see a strong rail alternative to road transport. A revitalised railway, where private sector investment and enterprise attracts more passengers and freight off the roads has to be good news for the environment and public transport."
Notes to editors
1. Stagecoach were awarded the franchise for South West Trains on 19 December 1995. Great Western Holdings were awarded the franchise for Great Western on 20 December 1995.
2. The commencement of these services means that around 20% by, aggregate turnover, of the former British Rail is now operating in the private sector. A further 30% of the industry, by aggregate turnover, is on the market. 32 former BR businesses have been sold.
3.The last three months have seen the sale of virtually all of BR's rolling stock, its telecommunications network, the final Design Office and specialist engineering business, and the award of three franchises to operate passenger services. Since the beginning of December, sales have been completed for #1.8 billion worth of businesses (by aggregate turnover).
4.In addition, final bids have been invited for the next four passenger service franchises; the sale of the Trainload Freight Companies and the Infrastructure Services is expected soon; and Railtrack is on course to be floated in May. These represent a further #4.6 billion worth of business by aggregate turnover
# = pounds sterling
Railhub Archive ::: 1996-02-05 DoT-001
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