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Big profits at East Coast show success of public ownership

9 September 2014

TSSA has hailed another strong set of financial results from Directly Operated Railways, the public sector company which runs East Coast. A further £217 million will be returned to taxpayers and can be re-invested in the railways, rather than being lost to shareholders as with other rail firms.

Manuel Cortes, leader of the TSSA rail union, said: "These latest results from East Coast prove conclusively that a publicly-run railway benefits both the taxpayer and passengers.

"This firm will have paid £1 billion to the Treasury by the time it is sold off next March to the highest private bidder. This is all about Tory dogma rather than running a social railway for the benefit of the public."

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