'The worst of all worlds?' New Labour, Network Rail and the third way

Jupe, R.E. (2007) 'The worst of all worlds?' New Labour, Network Rail and the third way. In: APIRA 2007 - Fifth Asia Pacific Interdisciplinary Research in Accounting Conference, 8th - 10th July 2007, Auckland, New Zealand. (Submitted) (The full text of this publication is not available from this repository)

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Abstract

This paper examines the role and status of Network Rail, a very significant example of New Labour’s attempt to operationalize the ‘third way’. A number of significant changes have occurred since its creation which make Network Rail’s position as a private company with private sector debt appear increasingly anomalous. These changes include: the reclassification of the debt of another rail company from private to public, and the introduction of ‘imputed debt’ into public sector debt measurement; new funding arrangements for Network Rail which make it heavily dependent on public support; and important rail regulatory policy changes. The paper demonstrates that Network Rail is a very expensive mechanism for channelling public money to private companies, and argues that the Labour Government’s attempt to maintain the company’s private sector status as part of its third way approach is ultimately untenable.

Item Type: Conference or workshop item (Paper)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HG Finance
H Social Sciences > HE Transportation and Communications
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculties > Social Sciences > Kent Business School > Accounting and Finance
Depositing User: Suzanne Duffy
Date Deposited: 22 Jul 2008 13:48
Last Modified: 21 May 2011 23:29
Resource URI: http://kar.kent.ac.uk/id/eprint/3948 (The current URI for this page, for reference purposes)
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