Ministers ask for rail saving plan

Rail bosses could have the upper hand in deciding their own spending fate as ministers have asked the UK’s major train companies to propose cost cutting ideas when it comes to running the UK’s railways. It is understood that the idea, which could see the train companies keep half their savings, is to provide incentive amongst the rail industry to agree to contract changes, which are some of the most complicated in the world and extremely detailed. Further extreme measures could be proposed in the future, it is understood, such as returning to the British Rail model when tracks and trains were run by one company. It is thought that Liverpool’s Merseyrail could test out the scheme. However, January passenger fares could go up substantially as a result of the drive to cut costs.