Psamathe wrote:pwa wrote:Psamathe wrote:I agree and also some/many thinking something is a good idea will change their minds when the Conservatives start presenting it as "Marxism". e.g. re-nationalisation of rail and utilities would lose broad support when it is presented as a "Marxist" policy. And whilst it's all spin and sound-bites, Corbyn was very easy for the Conservatives to roll out the "Marxist" label against most of his proposals.
Ian
My own reticence on renationalisation of the railways was less about dogma and more about doubting whether a nationalised railway would really have less overcrowding than what we have now. I remember British Rail being poor, and they didn't have the number of passengers railways have now. All I really want from railways is a simpler ticketing regime and a guaranteed seat. I don't care what the livery of the carriages is. So I questioned the wisdom of spending time and money on that Socialist project.
I never understood why re-nationalising the railways would cost. All we do is let the existing franchises run out and don't put them back out to bids but move them to a state operation. Takes a bit of time but it don't cost anything.
Ian
Most of the rather expensive to replace (think millions per item) rolling stock that the train operators use to provide our dire services, is actually owned by the banks and pension investment companies through a few companies known as ROSCOs or rolling stock leasing companies. Some operators do actually own their own stock, but these are the operators least likely to fold imho.
So there would be a cost to the government and hence the taxpayer to publicize the railways: Buying all the rolling stock off the money grabbing ROSCOs at at least £20 billions.
For instance Angel Trains Limited. year endeth 2018:
£417.6m income
£21.8m Tax
£18.3m wages
who in turn bung their buddies in Angel Trains Group Limited loan interest* who took a loan from Angel Trains Limited (keep up at the back)
£147m income
£10.82m 'other income'*
£154.7m profit
£1.47m income tax.....
So my question to the labour leader hopefuls, are you going to stop big business from doing this nested company lark which enables them to reduce tax liability because they're paying each other loan interest