TSSA alarmed at train owner pay outs

Rail and transport union TSSA has said it is “alarmed at the eye watering profiteering” by a train owning company which leases carriages to companies operating lines up and down the country. 

According to the Mirror newspaper Porterbrook paid out a dividend of £150 million last year, much of which went to shareholders at its parent company. At the same time accounts for Porterbrook Leasing also showed the pay packet to its boss jumped by £200,000 to just under £1.4million last year. 

The Labour government has so far decided not to bring rolling stock companies – known as Roscos - back into public hands. 

Commenting, TSSA General Secretary, Maryam Eslamdoust said: “The alarming and eye watering profiteering demonstrated by these figures show that despite Labour doing the right thing and bringing train companies back under public control, the exploitation of our rail network is set to continue. 

“This comes at a time when passengers are really feeling the pinch and are being asked to swallow another fare hike. 

“Ministers must now consider the long-term public good and get Roscos and freight back in public hands. Doing so will draw a line under the long years in which the previous Conservative government had little interest in value for money on the railways.”