Britain’s railways are back in the black for the first time since privatisation was set in motion 20 years ago, figures show.
Train companies collectively pay more to the Government than they receive in subsidies to operate the railways, although some individual lines do remain loss-making.
So there’s cross subsidy: some lines lose money, others make it. But there’s not a subsidy in general, it’s just that those cross subsidies flow through government.
An interesting question would be, well, what were the subsidies before privatisation? If any?