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A highly successful model? The rail franchising business in Britain

Jupe, Robert E., Funnell, Warwick N. (2017) A highly successful model? The rail franchising business in Britain. Business History, 59 (6). pp. 844-876. ISSN 0007-6791. E-ISSN 1743-7938. (doi:10.1080/00076791.2016.1270268) (KAR id:59479)

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http://dx.doi.org/10.1080/00076791.2016.1270268

Abstract

A crucial feature of rail privatisation in Britain was franchising. Passenger services were franchised in competitive bidding processes to train operators which were meant to function with declining subsidy. The paper adopts the framework of social cost-benefit analysis to examine rail privatisation's impact on three key groups; consumers, producers and the government. It establishes that privatisation did not achieve all the supposed benefits. Further, franchising only appears to be profitable through the use of calculative accounting practices, where by franchised train operators are portrayed as discrete business entities, whereas they are supported by very substantial, ongoing direct and indirect government subsidies.

Item Type: Article
DOI/Identification number: 10.1080/00076791.2016.1270268
Uncontrolled keywords: Rail privatisation; franchising; train operating companies; Railtrack; Network Rail; British Rail
Subjects: H Social Sciences > HJ Public Finance
Divisions: Divisions > Kent Business School - Division > Department of Accounting and Finance
Depositing User: Robert Jupe
Date Deposited: 28 Apr 2017 10:32 UTC
Last Modified: 06 Oct 2021 15:03 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/59479 (The current URI for this page, for reference purposes)
Jupe, Robert E.: https://orcid.org/0000-0003-4892-2605
Funnell, Warwick N.: https://orcid.org/0000-0003-3089-0908
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