High speed, but in the slow lane

One of the major reforms being considered in the Department for Transport’s current review of rail franchising is the way risk is shared between operators and government.

Nothing illustrates the need for change more than the revelation that Southeastern has lost £17m in the first six months of operating domestic 140mph services on the Channel Tunnel Rail Link. This was a DfT-specified project and at least half the motivation was to get the government out of jail by increasing the...