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The Future of Rail? An Evaluation of the 2004 Railway Industry White Paper

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  • Robert Jupe

Abstract

In July 2004, the Government published a white paper on ‘The Future of Rail’, which outlined its planned third attempt to reform the railways. This article reviews the new blueprint for rail, in the context of the performance of the industry and its regulatory bodies. The changes proposed are analysed in terms of their likely effects on the infrastructure authority and the train companies. The author concludes that there are major problems with the white paper as key details are omitted, and the proposed changes are heavily reliant on private companies which have performed poorly. The Government has missed the opportunity to renationalize the infrastructure authority, a move which would reduce borrowing costs and bring direct control over infrastructure costs.

Suggested Citation

  • Robert Jupe, 2005. "The Future of Rail? An Evaluation of the 2004 Railway Industry White Paper," Public Money & Management, Taylor & Francis Journals, vol. 25(3), pages 187-194, June.
    • Handle: RePEc:taf:pubmmg:v:25:y:2005:i:3:p:187-194
    DOI: 10.1111/j.1467-9302.2005.00472.x
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    References listed on IDEAS

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    1. Gerald Crompton & Robert Jupe, 2002. "Core Articles: Delivering Better Transport? An Evaluation of the Ten--Year Plan for the Railway Industry," Public Money & Management, Taylor & Francis Journals, vol. 22(3), pages 41-48, July.
    2. Francis Terry, 2001. "Viewpoints: The Nemesis of Privatization: Railway Policy in Retrospect," Public Money & Management, Taylor & Francis Journals, vol. 21(1), pages 4-6, January.
    3. Jean Shaoul, 2004. "Railpolitik: The Financial Realities of Operating Britain's National Railways," Public Money & Management, Taylor & Francis Journals, vol. 24(1), pages 27-36.
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    Cited by:

    1. Carmen A. Li & John Stittle, 2014. "Privatisation and Franchising of British Train Operations," Australian Accounting Review, CPA Australia, vol. 24(1), pages 53-65, March.
    2. Robert Jupe, 2009. "New Labour, Public–Private Partnerships And Rail Transport Policy," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 20-25, March.
    3. Jupe, Robert, 2009. "A “fresh start” or the “worst of all worlds”? A critical financial analysis of the performance and regulation of Network Rail in Britain’s privatised railway system," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(2), pages 175-204.

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