ellendune
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« Reply #435 on: July 09, 2017, 08:18:35 » |
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wasn't it the EU» that demanded that NR» become an agency with debt in the Government books. Then one small advantage of Brexit might mean it can go borrowing on its own...
I think it was something like that. My guess, let the debts mount up and then it'll be a prime candidate to privatise. My understanding was that the EU said that the debt guarantees that the government had given NR meant that it was not a real private sector company. The debt that had been guaranteed by the government therefore had to be counted as part of government debt. The government then decided that if NR's debt was a government debt, then it should treat it as a government agency. That is a little different to EU demanding a change.
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ChrisB
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« Reply #436 on: July 09, 2017, 09:13:45 » |
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But adherence to the ESA won't be necessary after Brexit, this opens the door to a return to NR» not being an agency again ( if so wished)
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Electric train
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« Reply #437 on: July 09, 2017, 09:57:21 » |
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wasn't it the EU» that demanded that NR» become an agency with debt in the Government books. Then one small advantage of Brexit might mean it can go borrowing on its own...
In part it was to do with EU regulations about State funding of companies; in addition the UK▸ Treasury were also uneasy with the fact that the UK tax payer had a large investment in something it could never get back if Network Rail PLC folded as it could not sell the assets easily. DfT» were not keen on moving NR into a State Agency ............ errrrrrrrrrrr because they would become accountable and not be able to hide behind the Network Rail is a company responsible to its "share holders" (NR share holders were not share holders that have invested but people nominated to act in that roll) But adherence to the ESA won't be necessary after Brexit, this opens the door to a return to NR not being an agency again ( if so wished)
NR is a Government owned agency, the UK Government however wanted NR to continue as if it was a commercial company but NR could not raise finance externally like it could before (that's the £50B + national debt) Although Brexit will allow the UK Government possibly more flexibility HM Treasury will still have a view on how much the railways contribute to the National debt. Of course the Government could go for the Big Four or Six railway companies based on sink or swim .................... passengers would not like the fares and motorway users would not like the congestion
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Starship just experienced what we call a rapid unscheduled disassembly, or a RUD, during ascent,”
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stuving
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« Reply #438 on: July 09, 2017, 10:49:00 » |
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There was an argument within government for many years about the status of these debts. NSOONS» have always been pushing for them to be - honestly - labelled as public sector liabilities, but then they would, wouldn't they, as that kind of classification task is what they do. At least as far back as 2001, when other agreed international accounting standards made this clear, ONS had it on their "to do" list. They were also granted a bit more independence just after that, beefing up the role of the National Statistician.
In 2006, NSOONS were able to reclassified LCR's debt (for HS1▸ ) as public, followed very soon by a huge lump of PFI debt. "Everyone" knew that the same rules said that NR» was controlled by the government, so it should also be moved across. However, DfT» managed to hold that off by pointing out what a huge jump in the national debt (as accounted) it would be. The change in the EU» 's statistical norms just made their (and the chancellor's) claims that white really is just a very very light shade of black too hard to keep up.
What would happen after Brexit isn't clear, any more than whether it will lead to politicians saying (in effect) "vote for me and have dirtier diesels" just because that would no longer be prevented by EU commitments.
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« Last Edit: July 09, 2017, 11:15:59 by stuving »
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JayMac
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« Reply #439 on: July 09, 2017, 11:02:41 » |
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Okay, I know what ONS» is (Office for National Statistics) as my stepfather worked for them.
But what are NSO and LCR? PFI is widely known but some readers may not be aware it stands for Private Finance Initiative.
Please can we have the full name when first using acronyns/abbreviations.
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"A clear conscience laughs at a false accusation." "Treat everyone the same until you find out they're an idiot." "Moral indignation is a technique used to endow the idiot with dignity."
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stuving
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« Reply #440 on: July 09, 2017, 11:11:46 » |
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Okay, I know what ONS» is (Office for National Statistics) as my stepfather worked for them.
But what are NSO and LCR? PFI is widely known but some readers may not be aware it stands for Private Finance Initiative.
Please can we have the full name when first using acronyns/abbreviations.
Guilty yer honour - too much of a hurry. NSO is a typo, maybe suggested by their pre-1996 name of CSO. LCR probably deserves a place in the forum's list, being London snd Continental Railways. Perhaps adding ( HS1▸ ) is more helpful though.
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« Last Edit: July 09, 2017, 15:40:58 by stuving »
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NickB
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« Reply #441 on: July 10, 2017, 07:16:24 » |
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Returning to the topic of LTV▸ gross inadequacy it's a new week, so here's a new problem
Due to a fault with the signalling system between Slough and Maidenhead trains have to run at reduced speed on some lines towards Maidenhead. Train services running through these stations may be delayed by up to 20 minutes. Disruption is expected until 12:00 10/07.
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ChrisB
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« Reply #442 on: July 10, 2017, 08:22:11 » |
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Oddly, early trains from Oxford were curtailed/cancelled/started short this morning too, so something else had also taken place causing problems.
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bobm
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« Reply #443 on: July 10, 2017, 08:28:36 » |
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Returning to the topic of LTV▸ gross inadequacy it's a new week, so here's a new problem
Due to a fault with the signalling system between Slough and Maidenhead trains have to run at reduced speed on some lines towards Maidenhead. Train services running through these stations may be delayed by up to 20 minutes. Disruption is expected until 12:00 10/07.
Turned out the 12:00 prediction was overly pessimistic. The fault (axle counters at Taplow) was cleared just after 7.30am.
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bobm
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« Reply #444 on: July 10, 2017, 08:31:10 » |
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Oddly, early trains from Oxford were curtailed/cancelled/started short this morning too, so something else had also taken place causing problems.
A set of points run through at Oxford. High Speed Train's ( HST▸ )s which terminate there will have to terminate at Didcot Parkway. Turbos will continue to Oxford but will have to do some extra shunting to return. Edit: VickiS - Clarifying Acronym
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« Last Edit: May 05, 2021, 15:41:36 by VickiS »
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NickB
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« Reply #445 on: July 10, 2017, 09:20:35 » |
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Oddly, early trains from Oxford were curtailed/cancelled/started short this morning too, so something else had also taken place causing problems.
The 7.17 HST▸ from Maidenhead to Paddington, which starts at Oxford, arrived in 5 carriage formation this morning leading to 1st class being declassified. It also managed to lose 10mins between reading and Maidenhead during clear running which is it's regular special trick.
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ChrisB
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« Reply #446 on: July 10, 2017, 10:00:06 » |
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Now a security alert @ PAD» , meaning cancelled & delayed starts/arrivals
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didcotdean
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« Reply #447 on: July 11, 2017, 11:51:47 » |
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According to a news report on BBC» Radio Oxford today there were over 300 signal failures between Reading and Paddington alone in the 12 months up to the end of March this year (info obtained under Freedom of Information). The highest number of different failures on a single day was 5. This is 20% up on the previous year. Unfortunately there is no online story to link to in case my memory of what was said is inaccurate.
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SandTEngineer
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« Reply #449 on: July 11, 2017, 16:29:07 » |
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According to a news report on BBC» Radio Oxford today there were over 300 signal failures between Reading and Paddington alone in the 12 months up to the end of March this year (info obtained under Freedom of Information). The highest number of different failures on a single day was 5. This is 20% up on the previous year. I find that absolutey incredible. In my time in S&T▸ maintenance/faulting that would have led to a significant 'not having a job' risk NR» do really need to get to grips with this issue and the DfT» should be pressurising them to do so.
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