*PREVIEW* Forced Reevesification feat. Gareth Dennis
May 3, 2024
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Gareth Dennis discusses 'Great British Railways' plan by Labour, touch on 'Sturgeonism Without Sturgeon Or Camper Vans.' Topics include rent-seeking middlemen, supply chain issues in rail system, exploitative dynamics of rolling stock cos., and open access operators in the industry.
Proposed 'renationalisation' of trains lacks substantial impact due to existing rent-seeking practices.
Rolling stock leasing companies act as 'train landlords,' draining public funds with disproportionate profits.
Deep dives
Proposal to Reintegrate Private Train Operating Companies
The podcast discusses the proposal to reintegrate private train operating companies, emphasizing that despite the verbal promises of change, the actual material impact would be minimal. The debate surrounds maintaining private entities for train operations while hinting at a potential shift towards public bodies. The discussion highlights the existing disintegration within the rail system, rendering it challenging to attract private companies. Both Labour and Conservative proposals align closely, indicating little substantial difference in the intended reforms.
Role of Rolling Stock Leasing Companies in Rent Extraction
The episode delves into the role of rolling stock leasing companies in rent extraction, revealing them as the main source of financial drain in the British railway system. These companies, akin to 'train landlords,' secure substantial profits at the expense of public funding. The narrative underscores the disproportionate profit margins these entities accumulate, signifying a significant challenge in effective resource allocation and public investment.
Challenges and Extractive Nature of Open Access Operators
The podcast addresses the presence of open access operators within the railway industry, contrasting their operational freedom with the limitations faced by traditional train operating companies. While open access operators can introduce competition, the lack of residual network capacity in Britain leads to extractive practices, further complicating the system. These operators, sustained by existing railway infrastructure and resources, contribute to increased complexity and financial drainage without substantial industry benefits.
We're joined by top tier friend of the show Gareth Dennis (@GarethDennis) of the Rail Natter YouTube channel to discuss 'Great British Railways,' the new Labour plan to 'renationalise' (sic) the trains while leaving all of the immense problems, rent-seeking middlemen, and supply chain issues in place. But also we cautiously venture north of the border to discuss recent attempts to create Sturgeonism Without Sturgeon Or Camper Vans. It's a whole lot!