04 August 2014/Categories: Industry News
There have been renewed calls for the East Coast Main Line to stay nationalised after it returned a record £235 million in profits back to the taxpayer in its final full year as a state-owned company.
This marked a 12 per cent increase on the previous year's figure, and was composed of a £216.8 million 'franchise premium' and £18.6 million in a dividend payment. Over the past five years the line has returned more than £1 billion to the government, This is Money reports.
National Union of Rail, Maritime and Transport Workers acting general manager Nick Cash told The Mail on Sunday: "It's a ludicrous decision to hand the railway back over to private ownership when that’s already been tried twice and failed both times."
The government intends to privatise the line, which has been in public ownership since 2009, despite opposition from transport unions, the Labour Party and Green Party and the 27,000 signatories to the 'Keep the East Coast Main Line public' e-petition.
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