Abstract
Rail privatization and regulation in Great Britain are assessed in the context of ‘New Right’ political ideas. The initial effects of franchising passenger rail services are analysed with particular reference to urban areas. Factors examined include changes in Government subsidy, service levels, revenue generation, operating efficiencies and ownership. Three yardsticks, i.e. subsidy reduction, competition and consumer benefit, show limited but generally positive initial effects. Finally a very successful alternative model of rail franchising —Greater Manchester's Metrolink — is briefly examined.
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