Subsidy and Productivity in the Privatised British Passenger

  title={Subsidy and Productivity in the Privatised British Passenger},
  author={Jonathan Cowie},
This paper gives a brief overview of subsidy arrangements in the privatised passenger rail industry in Britain before focusing on productivity performance across the first four years under the new privatised structure. Subsidy reductions are analysed in terms of the average annual percentage increases required in passenger revenues to offset these reductions for each train operating company. These are found to range from 2% to 21%. It is highlighted however that such 'gains' could equally be… CONTINUE READING

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