I’m off to Mull for a week, so here’s something to think about.
The railway is approaching a financial crisis. Revenues will be down for a year or two, franchises will be supported by the government in most cases. Investment is up. Massively. Electrification and HS2 are being planned, while Crossrail and Thameslink are (kind of) under way.
What should the railway be doing from 2014 onwards? Continue to invest to meet demand and improve quality? Or retrench to ensure that value for money is delivered from the schemes already underway?
Its not an easy question because the railway is, in my opinion, bloated and out of control on costs.