THE Scottish government must ditch the “failed private model” of private finance initiative (PFI) and rolling stock companies (Roscos) and use green bonds to finance new trains on ScotRail, says Aslef.

The rail union renewed its calls as ScotRail began the process of renewing its ageing suburban fleet by opening the tender for contracts for trains expected to enter service in the early 2030s. 

Commissioned by Aslef earlier this year, research by academics at the University of Glasgow found that a staggering 25 per cent of cash shelled out by travellers on fares was being funnelled into the hands of PFI and Roscos.

“The Scottish government must reject the failed private model of PFI and rolling stock companies that still extract profit from our public railway system,” said Aslef Scottish organiser Kevin Lindsay.

“Use green bonds to finance our trains instead and use the savings to reduce fares and attract even more people onto our trains. 

“This would help Scotland meet its environmental targets and grow and stimulate the economy by putting more money into the pockets of rail travellers to spend in the local areas.”

A Scottish government spokesperson said: “We note once again Aslef’s consideration of options to finance new trains in a publicly owned railway. Public ownership has created the opportunity to deliver a railway which is run for the benefit of customers.

“As with all long-term government action, spend in this area will be aligned with future Capital Spending Review and Infrastructure Investment Plan cycles.”