That's almost exactly what I say about the ROSCOs (rolling stock companies). There cannot be really effective competition between them for existing stock, unless there were far more units than demand. However, the latter suituation would be quite mad and almost certainly will not happen.Surely we need a position where the country has more units than demand? Because until we get the the train leasing companies can charge almost what they like? If they have more trains than were required then they would be required to offer competitive terms to lease them?
The only sensible solution, as I see it, is for all new rolling stock to be state-owned. The ROSCOs can then competitively bid for maintainance contracts etc.