Friday 2 June 2017 5.30pm
In the European countries I mentioned, the national rail companies own the rail infrastructure, as well as the rolling stock. There are some limited private franchises, but all rail travel is subsidized by the respective governments.
That is why it is so much cheaper
to travel by rail in continental Europe than it is in the UK where rail travel is a business aimed at making money for the shareholders.
Fair enough Jules, you've educated me. I may be being pedantic here, but I still think that there's a difference between state owned companies and a nationalised rail network.
You should explain, then, what is the difference between the two.
The examples I provided are of the railways of a few European countries that are owned and controlled by the respective governments, in a similar way to how British Rail was once owned and controlled by the British government before privatization.
No, they are companies, successful ones that are state owned, that is not the same thing as nationalised industry.
The Deutsche Bahn is a private company, albeit with only one shareholder, the German government.
SNCF is also a private company, a holding company with subsidiaries which run the French railway system.
Perfect analogy being EDF, which is state owned too, that's a private company.
A nationalised rail system would not be floated on the stock exchange.
I told you I was being pedantic.