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Why everything about our privatised railways is a total rip-off
What are rolling stock companies? What is Porterbrook? And why is our cash being sucked out of what should be a public service? SOLOMON HUGHES explains all
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IF YOU want an illustration of how the British economy transports cash out of public services and into the hands of investors while short-changing the public, have a look at Porterbrook.
It is one of the most important firms in the privatised rail industry, but is barely mentioned on the news.
Rail staff are going on strike to stop their pay being cut, but the latest accounts show Porterbrook’s boss got a 36 per cent pay rise, taking their salary to £915,000 a year. Porterbrook shareholders got £80 million in dividends.
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