PM Andy Burnham was urged today by the RMT union to introduce a cost-of-living levy on profiteering train rolling stock leasing companies (Roscos).

New figures show that dividends have more than trebled at the firms, which own Britain’s trains and lease them out to operators. 

Britain’s largest rail union singled out Evershot, which owns much of the country’s rail rolling stock, after it recently announced that it had paid a dividend of £200 million, up from £60m the previous year.

Combined with the £111m dividends already announced by another train owner, Angel, the profits could pay for a 2.5 per cent fare cut.

A third Rosco, Porterbrook, is yet to announce its dividends.

RMT general secretary Eddie Dempsey said that while Mr Burnham was right to say that we must have greater public control of the essentials in life, “this must mean taking action to rein in the profits of the offshored corporate giants who own our trains.”

“A 100 per cent cost of living levy on this year’s profits would be the equivalent of a 2.5 per cent fare cut and would provide immediate relief for passengers,” he added.

“It would also be a step toward stopping the corporate raiding of our rail system, controlling costs and ultimately nationalising our rolling stock as part of an integrated publicly owned railway.

“We will be campaigning for this position through amendments to the Great British Railways Bill when the legislation begins in the lords after summer recess and this will be a key union demand in the forthcoming Budget.”

The Department for Transport was contacted for comment.