BRITAIN’S rail privateers looked forward to cashing in on thousands of passengers’ Christmas transport misery yesterday thanks to the madness of the franchise system.

Taxpayer-owned infrastructure group Network Rail (NR) faces big compensation payouts and official fines for the chaos caused by over-run maintenance works after the Office for Rail Regulation announced an investigation.

Passengers in London trying to get to the north of England and Scotland or return to the capital were confronted by a total shutdown at King’s Cross, while Paddington was hit by a major signal failure.