NO TAKERS ON RAIL PROJECT
DURING the 19th century, the whole of Britain’s railway network was built by private Capital.
Initially there were hundreds of small railway companies like the East Lancashire railway company which ran a service from Colne to Preston and Blackpool.
It was later incorporated into the Lancashire and Yorkshire railway company.
Although some railway companies went bust, the majority were profitable so they were able to pay their share holders a high dividend.
It was the high noon of free market capitalism, real public ownership.
Now the government is preparing to spend over 50 billion pounds on building a line from London to the North of England.
So why has this venture not attracted private investors?
Do they think it will be a financial disaster? John Porter Thwaites Road Oswaldtwistle