Delay electric trains, says Network Rail

[whole diary]

[Tim]

This announcement does raise some interesting questions.  Electrifcation (and the axed station improvement plan)  was going to be funded by NR^» (Network Rail - home page) borrowing not the Governemnt.  If the Governemnt is asking NR to axe these things does this mean thatthey have plans to re-nationalsie NR in the future?

[Electric train]

This announcement does raise some interesting questions.  Electrifcation (and the axed station improvement plan)  was going to be funded by NR^» (Network Rail - home page) borrowing not the Governemnt.  If the Governemnt is asking NR to axe these things does this mean thatthey have plans to re-nationalsie NR in the future?

The Government underwrites Network Rail's borrowing that is it acts as guarantor, also there is a degree of public money to fund some of these projects, in effect NR's debt is a Government debt

[Tim]

This announcement does raise some interesting questions.  Electrifcation (and the axed station improvement plan)  was going to be funded by NR^» (Network Rail - home page) borrowing not the Governemnt.  If the Governemnt is asking NR to axe these things does this mean thatthey have plans to re-nationalsie NR in the future?

The Government underwrites Network Rail's borrowing that is it acts as guarantor, also there is a degree of public money to fund some of these projects, in effect NR's debt is a Government debt

That is what I understood.  So NR borrowing less, means less exposure by the government to NR debt default.  but it is disenginuous of the government to portray it as a spending cut.