GWR being extended to 2020 and very likely 2022 by direct award, before the likely split into two.
The "Devon/Cornwall" franchise is far more than that, it's basically anything served off the B&H and extending back to Paddington.
Since the first time I can recall it being discussed, the Devon/Cornwall franchise concept has always included the London services - a few semi-fasts and branch lines would hardly constitute a franchise on their own and would be a total financial basket case. Now we seem to have moved on to reinventing Wessex Trains and chucking in the London services as well.
And even with the London service included you'd have to wonder about the finances, given the seasonal nature of much of the long-distance demand, even before you get to basic things like the cost of having to hire in stock from the rump GWR for summer Saturdays, Easter and Christmas extras, as a split would remove the ability to just shuffle stock around between the various GW routes. The idea that the London-Bedwyn service could end up in the 'West Country' franchise hints at desperate attempts to come up with a way of making the potential bottom line look better by chucking in a slice of Berkshire commuter revenue.
I remain to be convinced such a split is "likely". Even the DfT has felt obliged to list supposed advantages and disadvantages in its consultation document
https://www.gov.uk/government/consultations/great-western-rail-franchise and the 'advantages' aren't that convincing. FGW/GWR has put plenty of focus on improving the West Country branches, to take just one example - would anyone else do better just because they weren't managing Thames Valley commuter services as well?
Designing franchises to try to make the Treasury happy and attract one or two more bidders isn't necessarily compatible with the delivering a joined-up railway for the passengers or operationally, which was kind of the reason why the Greater Western franchise was created in the first place. Co-ordination between the intercity version of FGW and Thames Trains and Wessex services was pretty poor much of the time.
I am puzzled by the term "Reversing Beeching"
It's called spin - it sounds much better than saying we are reannouncing - yet again - all the reopening projects that are already in the development stage and which we are very keen to take credit for, even if they were someone else's idea...