Network rail privatisation looms

Key sections of publicly-owned Network Rail are threatened by “creeping privatisation” warns the RMT rail union. The union said the government has fired the starting gun on the re-privatisation of the rail operator, which owns and maintains the rail network, as it was confirmed that six key sections of the organisation’s business are to be put out to tender.

The “big four” accountancy firms are said to be vying to take on sections of the corporate functions which include finance, infrastructure and accounting services.

Even more worryingly, according to the RMT, big banks, including NM Rothschild are eyeing up “equity execution advice” roles which are expected to include working out ways to begin the re-privatisation of Network Rail on a piece-by-piece basis.

This would take place under the direction of the government and the recently-appointed “special director” to the operator’s board who is directly answerable to the transport secretary.

The union points out that one of the NM Rothschild senior players was also an advisor to the privatised Railtrack which collapsed into chaos leading to the creation of Network Rail.

RMT general secretary Mick Cash said: “There has been detailed work underway behind the scenes looking at ways and means of farming Network Rail back out to the private sector by stealth in a piecemeal fashion.”

www.rmt.org.uk/news/rmt-warns-of-creeping-privatisation

www.morningstaronline.co.uk/a-ff5a-Privateers-pounce-on-Network-Rail