Ten Years On

Abstract

In February 1996, the first privatized trains of the modern UK era began operation. This article discusses the original goals of privatization and whether they have been achieved over the past 10 years. Privatization has brought an increase in both passenger and freight traffic. The privatized railroads are both more efficient and more profitable. However, although some fares have remained affordable after privatization, some have gone up by as much as 95%. To meet current and future demand, longer franchises are recommended to encourage investment in railroad facilities.