LETTER : Halting the Railtrack scam

Click to follow
The Independent Online
Sir: Were it not for the Labour Party's abject refusal to give any sort of firm commitment to re-acquire Railtrack, the privatisation process could be halted.

The Liberal Democrats set out how we would do it some time ago, and have been calling on Labour to join us. Had they done so, this disastrous scam would not have got as far as it has.

Your commentary ("Rail sell-off gives the wrong signals", 15 April) provided even more damning evidence - by selling Railtrack for a fraction of its real value, writing off billions of pounds of debts, and promising huge bonus dividends to shareholders the Government is screwing the taxpayer.

The ironic thing is that once in the private sector, the railways will cost the taxpayer more than at present - an extra pounds 700m a year.

David Chidgey, MP

(Eastleigh, Lib Dem)

House of Commons