Work

An illusion of success: The consequences of British rail privatisation

Year: 2014

Type: article

Abstract: Highlights• The article challenges narratives of the success of UK rail privatisation using accounting data from Network Rail and private train operating companies.• Large government subsidies channelled through Network Rail have radically changed the appearance of railway finances.• Lower track access charges levied by Network Rail have artificially inflated train operator profits, generating returns for the taxpayer and the illusion of financial self-sufficiency.• This accounting fix has bolstered claims that rail privatisation has been a financial success.

Source: Accounting Forum

DOI: 10.1016/j.accfor.2014.10.001

Author: Andrew Bowman

Institutions: University of the Witwatersrand, University of Manchester

Language: English

Topic: Transport and Economic Policies

Subfield: Transportation

Field: Social Sciences

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $1,100