BRITISH passengers are facing yet another massive hike in rail fares – so that multi-million pound profits can be funnelled into bankrolling state-owned European networks.
UK commuters will have to shell out an extra 3.6 per cent for a ticket from January – the fastest rise in five years – according to new figures from the Office for National Statistics (ONS).
But much of the price hike, which will generate millions of pounds in extra revenue for Britain’s privatised rail companies, will never be reinvested in improving our creaking infrastructure.
Instead, it will be funnelled abroad to Government-owned rail companies within the EU, where it can be used to subsidise cheaper fares and better services for European taxpayers.
That is because many of the franchises which run the UK’s rail services are actually owned by other European states through a complex web of companies, who ultimately receive their operating profits.
According to recent research an astonishing half of all the rail journeys completed in Britain are now fulfilled by operators which are ultimately owned by a foreign company or state.