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DfT budget cut by £545m

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swt_passenger

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If this sell off is so wonderful for the railway, how comes it's taken the Government to strong arm NR into doing it?

It isn't anything to do with NR, the Kings Cross 'railway lands' are owned by the DfT's London and Continental Railways offshoot, which is now almost entirely a property company. It is effectively winding up the last bits of the HS1 project.
 
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It isn't anything to do with NR, the Kings Cross 'railway lands' are owned by the DfT's London and Continental Railways offshoot, which is now almost entirely a property company. It is effectively winding up the last bits of the HS1 project.
Indeed, nor is this new, the disposal of LCR's property assets first being announced as assets identified for disposal by 2020 in the last government. The selling of LCR's share in this joint venture was always intended; it has merely been brought forward by two or three years.
 

WatcherZero

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Looks like the Treasury is going to start on its aim to carve up Network Rail, next month their apparently going to announce a plan to bypass the Dft and raise £500m by selling bonds in the Electrification programme to the private sector.
 

Drsatan

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Looks like the Treasury is going to start on its aim to carve up Network Rail, next month their apparently going to announce a plan to bypass the Dft and raise £500m by selling bonds in the Electrification programme to the private sector.

I smell more delays to MML electrification if that happens :roll:
 
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