Our cash goes to rail rich

Our cash goes to rail rich

RAILTRACK IS pocketing a huge handout from the government and giving it straight to its shareholders. Railtrack bosses announced this week that profits fell by 31 percent to 175 million over the last six months. But interim dividends were increased by 5 percent.

New Labour has just given Railtrack 15 billion. This money should be spent on improving a renationalised railway. Instead it will simply be transferred from the Treasury to rail fat cats who will use it to bolster directors’ pay, profits and further dividends.