Labour to renationalise railways with no compensation
LABOUR will push ahead with the renationalisation of the train operators, a shadow minister insisted yesterday.
The party plans to bring the railways into public ownership as the private contracts of train operators expire. Louise Haigh, the shadow transport secretary, said it meant operation of trains would be in public ownership within five years. As contracts have expired, companies would not be compensated.
The comments came ahead of a drive by Sir Keir Starmer to woo business. In a major speech to business leaders today, the Labour leader will pledge to make them his “equal partner” in government, saying they deserve praise for “serving the national interest”.
He will reiterate that Labour is now the “party of business” and that he is “proud” that executives are returning after being turned off during the days of Jeremy Corbyn.
Ms Haigh told GB News that Britain’s railways were “broken” and that Labour had a plan to fix them that would “bring
‘Our position is the same: we will bring railways into public ownership as core contracts expire’
significant savings”. She said: “I’ll be setting out our plans, actually in just two or three weeks’ time, which will demonstrate how we’ll save money and how that money will bring those operators into public ownership, all of them, within the first term of a Labour government.” She added: “There’s absolutely no compensation provided to the operators.”
The plan was first conceived during Mr Corbyn’s leadership of the Labour Party and a spokesman for Labour said: “Our position remains the same: we will bring railways into public ownership as core contracts expire.”
This week rail passengers’ journeys have been marred by strikes as members of the train drivers’ union Aslef walk out across 16 companies.
Today, Sir Keir will vow to work with business leaders to promote the country’s “renewal” at a conference organised by Labour. He will reiterate that Labour is now the “party of business” and that he is “proud” that executives are returning after being turned off during the days of Jeremy Corbyn.
Sir Keir will launch a five-point plan for business as he vows his party will “do the hard yards, roll up our sleeves and get underneath the bonnet to fix an unprecedented stagnation in British productivity growth”. The insistence that they are “equal partners” means a
Labour government does not want dictate to business and they will not be able to dictate to Labour. Instead, they will attempt to work hand in hand to drive growth and prosperity to all corners of the country.
The Labour leader’s speech echoes Sir Tony Blair’s attempts to woo business in the run-up to the 1997 election when he told the CBI: “Britain needs successful people in business, who can become rich by their success.”
The event in central London will be attended by 400 senior business leaders, including FTSE 100 chief executives from a range of companies, as well as 200 international investors and ambassadors.
Labour say that tickets for the event sold out in four hours and hundreds were on the waiting list to attend. In his speech, Sir Keir will try to distance himself from the anti-business Corbyn years.
“I know that the caricature that British business only serves the shareholder interest is lazy and out of date,” he will say.
“In fact, one of the things I draw great hope from is the determination I see from the countless business leaders I’ve met to serve the national interest.
“A pride, not just in the contribution you already make, but what else you could achieve if you had a government that matched your ambition.
“That’s why, as we’ve drawn up our plans for Britain, we haven’t just opened our door, we’ve taken decisions together as equal partners in the venture of national renewal.”