Competition in the Rail Industry

W P Bradshaw

Oxford Review of Economic Policy, 1997, vol. 13, issue 1, 93-103

Abstract: The privatization of the railways in Britain is almost complete. The article describes the method of privatization, where a vertically integrated state-owned monopoly has been broken up into a monopoly track company, three monopolistic owners of passenger rolling-stock, 25 franchised passenger train operating companies, a freight operating company, and large numbers of suppliers of services. The author explains the potential for competition within this complex structure, in an industry which has been steadily losing its share of the transport market for some 70 years. Attention is drawn to the absence of any clear criteria for continued public subsidy and to the tensions which exist between the Regulator and other players in the industry. Copyright 1997 by Oxford University Press.

Date: 1997
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