There is no doubt that the services to Wareham are an amazing technical and operational achievement for the Swanage Railway, and a credit to the heritage movement as a whole.
The same cannot be said for the finances underpinning such operations.
Much has been made of our fares levied to and from Wareham, but it must be stressed we receive NO EXTERNAL SUBSIDY for these services.
Indeed, the Trust has had to subsidise the Wareham service to the tune of £100,000 for 2023 to achieve a breakeven.
Against this we have our main line railways - including SWR on a 'cost plus' contract from the Government and the competing bus company not only being able to provide free services to the over 65s through the Council's subsidised bus schemes, but now they gain from further subsidies to offer the £2 flat fare for the rest of the year.
We understand over £1/2 million has been placed through subsidies into bus services in Purbeck alone this year.
Against this our railway - A CHARITY - has no option but to operate services at a commercial rate.
It is hardly surprising many potential passengers opt for the bus alternative to Wareham if they can pay only £4 return (or even free) against our £25. This has had a serious impact on revenues from Wareham.
As an example, we had budgeted fare income of £22,000 in May. The actual turned out to be little more than £9,000.
The Company Board will have a difficult decision over the continuation of Wareham services into next year.
Unless there is the prospect of some form of external grant aid or subsidy, I cannot see them running in their current form in the future.
This will be a tragedy after all the work that has gone into getting these services off the ground, but clearly, we cannot jeopardise the finances of the railway when they are already severely stretched.
Yes, though, I would.
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