RAILTRACK has come to the end of the line. The most ill-conceived part of a botched railway privatisation, Railtrack was asked to invest billions of pounds to update Britain's creaking rail network and ensure passenger safety while making a hefty profit for its shareholders. The Hatfield disaster signalled that this job was impossible.
Tony Blair's Government missed its chance to renationalise Railtrack when it took power. Now we have a salvage operation.
Hundreds of Railtrack workers face the loss of their savings, in the form of worthless share options, and the possible loss of their jobs. To minimise their anxiety ministers must act quickly to deliver a new blueprint for the railways.
Updated: 10:03 Monday, October 08, 2001
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