Our satisfaction with rubbish trains means free beer money for rail execs

News that Network Rail executives are to receive bonuses, despite missing several modest targets, reveals the incompetence the British public can be persuaded to think they’re happy with Sir David Higgins is a lucky man. He’s the chief executive of Network Rail who, we learned last week, is receiving a £99,082 bonus on top of […]


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Network Rail pleads for more cash as its debt soars

Figures suggest there will be a record 1.5 billion journeys on the railways this year and more money is needed Network Rail has warned that the smooth running of Britain’s trains will be jeopardised without increased investment to meet demand as passenger numbers and the track operator’s debt continued to grow. Figures suggest there will […]


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Network Rail debt breaches £28bn on higher spending

Rail infrastructure company’s net debt soars due to a rise in capital investment, but profits also rise from £136m to £573m The net debt of Network Rail has soared to more than £28bn, it has been announced. The rail infrastructure company said its net borrowings had risen from £27.2bn at the end of March 2012 […]


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Letters: Railway users v financial engineers

Subsidies to the railways since privatisation have increased by about 450% to around £5bn a year (Editorial, 21 August). Fare rises of up to 11% will doubtless contribute to the recently announced £12m-a-year bonus scheme for the top six executives at Network Rail. The coalition is in an ideological trap because any infrastructure problem, such […]


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Whatever the truth about Libor, one fact is clear: Barclays needs new blood

The Commons report on the rate-fixing scandal may not fully explain what went on at the bank, but it is surely right to condemn ‘a prolonged period of extremely weak governance’ The report by Andrew Tyrie’s committee of MPs on the Libor-fixing scandal is a good read, unless you happen to be one of the […]


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