Accrington Observer - - YOUR VIEWS -

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

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.