Labour in the UK reveals plan to bring railways back under state ownership within 5 years | Global News

The UK’s Labour Party has outlined a bold plan to renationalise the country’s rail network within five years, without compensating private operators. The move comes as the party aims to fix the troubled railway system, which has faced criticism for deteriorating quality and underperformance.

Labour’s proposal includes setting up a publicly owned Great British Railways, which will take over passenger rail contracts currently held by private firms as they expire. The party expects this process to be completed within its first term in office.

The decision to renationalise the railways has garnered widespread support, with nearly 70% of voters backing the move, according to a recent poll. The plan has also drawn attention from industry analysts, with shares in FirstGroup, one of the major rail operators, falling in early trading.

While the government has also proposed establishing a new Great British Railways company, its plan differs from Labour’s approach. The government’s proposal would maintain a franchise system, contracting out passenger services to private firms, in contrast to Labour’s plan for full renationalisation.

With the national election expected later this year, Labour’s ambitious rail renationalisation plan could be a key issue for voters. The party’s focus on improving the quality of rail services and holding operators accountable has struck a chord with the public, setting the stage for a major overhaul of the UK’s railway system.