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.
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