Great British Railways to consider public ownership of new trains

The UK government has introduced a new rolling stock and infrastructure strategy that allows Great British Railways (GBR) to consider direct public ownership of new trains rather than relying on private leasing. This marks a significant shift in policy, as for the past 30 years, most passenger trains have been owned by rolling stock companies (ROSCOs) and leased to operators.

Under the new strategy, GBR will take a coordinated approach to managing trains, tracks, depots, and maintenance to end industry fragmentation. For future procurements, GBR will evaluate on a case-by-case basis whether public ownership, leasing, or other financing models offer the best value for taxpayers and passengers.

The government noted that leasing and maintenance costs currently exceed £4 billion annually. Additionally, data from the Office of Rail and Road indicates that rolling stock companies paid out more than £2.5 billion in dividends over the last decade. While existing leasing agreements will remain in place, leasing will no longer be the default option for new fleets.