'Such a Silly Scheme' : The Privatisation of Britain's Railways 1992-2002

Jupe, Robert E. and Crompton, Gerald W. (2003) 'Such a Silly Scheme' : The Privatisation of Britain's Railways 1992-2002. Critical Perspectives on Accounting, 14 (6). pp. 617-645. ISSN 1045 2354. (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.1016/S1045-2354(02)00187-9

Abstract

This paper analyses the privatisation of Britain’s railways, starting with the original legislation and ending with the insolvency of the infrastructure owner, Railtrack. It examines the performance of the privatised system, focusing on the three key benefits which the Major Government claimed for privatisation: greater efficiency; improved quality for consumers; reduction in public subsidy. It examines the performance of Railtrack, but also considers the behaviour of government, regulators and train operating companies. Attention is given to the importance of ideology in the privatisation, and to the broader role of privatisation in government policy. The paper argues that privatisation was fundamentally flawed, as it was impossible for the system to generate sufficient profits to deal with the demands upon it. Privatisation failed in all areas as it produced an inefficient system with higher costs, poorer quality of service, and increased public subsidy

Item Type: Article
Subjects: H Social Sciences
Divisions: Faculties > Social Sciences > Kent Business School
Depositing User: Robert Jupe
Date Deposited: 06 Sep 2008 16:54
Last Modified: 12 Jun 2014 11:33
Resource URI: http://kar.kent.ac.uk/id/eprint/7673 (The current URI for this page, for reference purposes)
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