Regulator to review regulation of rolling stock companies
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21 January 1998 The Rail Regulator, John Swift QC, has been asked by the Deputy Prime Minister to review the operation of the rolling stock companies. He has asked the Regulator to make recommendations to him on the most effective way of dealing with any problems he identifies, taking account of the Government's transport objectives and the need to ensure that public support to the railway is used effectively and improves the quantity and quality of railway services. Responding to this invitation, John Swift said 'I welcome the invitation from the Deputy Prime Minister to take this forward. I believe that it is important to reach clear and early conclusions on the best way of ensuring that the rolling stock market meets the needs of rail passengers, and of those operating and funding passenger services. In my discussions with train operators and funders, I have heard a number of concerns about the operation of the rolling stock market, and been given a number of suggestions about the best way of dealing with them. But it is important that any action is only taken after a proper consideration of all aspects of the rolling stock market, and the alternative ways of dealing with those problems which can be substantiated. That is why, in my memorandum to the House of Commons Transport Sub-Committee last October I suggested that these issues should be the subject of public consultation.' The Regulator has been asked to submit his report by the middle of April. He expects to publish, before the end of January, a consultation document seeking views from interested parties. The Deputy Prime Minister has asked in particular for the Regulator's assessment of the scope for the rolling stock companies to abuse their market position either through excessive pricing, through inadequate investment in new or refurbished rolling stock, or more generally through their response to the requirements of train operating companies to secure improvements in performance. Copyright © 2002 Office of the Rail Regulator |
