Towards a more efficient railway: The Beesley lecture

Richard Price

MPRA Paper from University Library of Munich, Germany

Abstract: Britain’s railways are a great success story. The rail industry needs now to change to sustain the remarkable progress of the last decade. To get the best service for its customers and a good deal for the taxpayer, the industry needs the freedom to innovate, to deliver better value and to make rail more attractive for passengers and freight. For too long the rail industry, the government, and the regulator have created ever more byzantine funding and decision-making structures, and since privatisation regulator and government have been drawn into operational detail instead of being focused on what matters – ensuring the industry serves its customers at the best price for the taxpayer.

Keywords: Railways; Efficiency; Privatisation; Vertical; separation; Performance; Transport; train; economic; regulation; health; and; safety (search for similar items in EconPapers)
JEL-codes: L32 L33 L38 L51 L92 N74 R4 R41 (search for similar items in EconPapers)
Date: 2012-11
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