RMT: 'it’s a Great British rail rip off'

Ahead of the government announcing rail reforms this week, transport union the RMT has describe what it calls “the Great British rail rip off”, as a train-owning company pays out a £46.5 million dividend it says was funded by government Covid-19 support.

According to the union, Eversholt, one of three rolling stock leasing companies that own more than 85% of the trains on Britain’s railways, paid their shareholders a dividend of £46.5 million for the year March 2020, to March 2021.

The government has guaranteed to pay all Eversholt’s lease charges under the bailout packages agreed with the industry and has done nothing to stop the rolling stock leasing companies paying dividends during the pandemic.

RMT general secretary Mick Lynch commented: “In the week when the government is set to announce the creation of Great British railways it’s full steam ahead for the Great British rail rip off.

“Even as ministers have been finalising their plans for rail reform, they have funded obscene pandemic profiteering by a company that owns a quarter of the country’s trains. Profits up, fares up, services, jobs and pay cut – we can expect more of the same this week.”

https://www.rmt.org.uk/news/new-figures-show-the-reality-of-the-great-british-rail-rip-off