Jeremy Corbyn slams ‘disgrace’ of foreign firms creaming off millions from Britain’s railways

Labour leader Jeremy Corbyn has hit out at foreign owned railway companies, after it emerged millions in profits are being sent abroad.

Mr Corbyn said it is a “disgrace” that dividends paid to foreign shareholders are being used to subsidise railways abroad .

Mr Corbyn said: “It seems the Tories have no objections to public ownership so long as the British public don’t get the benefit.

“It is a national disgrace that higher fares are squeezed out of Britain’s passengers every year so that dividends can be repatriated to Berlin, Paris or Amsterdam to subsidise other countries’ railways, or paid to private shareholders in Britain.”

And he reiterated his promised that renationalising the UK’s railways would be one of the first acts of a Labour government in 2020.

Mr Corbyn added: “ Labour has nothing against the public ownership of railways in other countries, far from it. But we want our own railways to be owned by the British people.

“Railways are part of the new green economy of the future. That’s why Labour is now pledged to bring our railways into democratic public ownership at home.

“A modern, publicly owned People’s Railway is central to our plans to rebalance economic growth, not just North-South but right across the country.

“So one of the first acts of the next Labour Government in 2020 will be to bring franchises into public ownership as soon as possible and start to create a properly integrated railway system with affordable fares – in the interests both passengers and taxpayers.”

Source: Jeremy Corbyn slams ‘disgrace’ of foreign firms creaming off millions from Britain’s railways – Mirror Online

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8 thoughts on “Jeremy Corbyn slams ‘disgrace’ of foreign firms creaming off millions from Britain’s railways

  1. Rupert Mitchell (@rupert_rrl)

    This is the sort of management that the country needs to get back on its feet once more. I can’t wait to get Jeremy as PM and to stop our heritage being sold off to the highest bidder at a huge cost to the general public.

    Selling off our industries and importing, usually inferior, products at slightly lower prices does not compensate for the huge cost of the unemployment, lack of prestige and profiteering which results.

  2. NMac

    Jeremy has hit the nail on the head with this simple statement, “It seems the Tories have no objections to public ownership so long as the British public don’t get the benefit”.

  3. Christine Bergin

    At last someone has noted that state owned businesses in other countries now own our assets. Now can we admit that electricity and water have mostly gone the same way? I wont dwell on other assets gone the same way. Lovely con trick wasnt it. Just like private pensions. And turkeys still vote for christmas!!

  4. Mr.Angry

    Mr.Corbyn is totally right, but it wont affect the Tories as most of those are chauffeured around at the tax payers expense, just as millions are spent converting a private plane for DC’s comfort.

  5. maxwell1957

    Isn’t it interesting that a large section of the railways running in the UK are actually owned by the state-controlled railways of France, Germany and Holland?

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