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The Privatisation of British Rail - How Not to Run a Railway (Hardcover)
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The Privatisation of British Rail - How Not to Run a Railway (Hardcover)
Series: Routledge Studies in Accounting
Expected to ship within 12 - 17 working days
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The privatisation of the British railway industry was a unique
political and economic event. An integrated industry was broken-up
into numerous component parts and sold off to private sector
interests. The result was a highly fragmented industry that was
structurally unsound and operationally dysfunctional. This
authoritative volume presents an enlightening portrait of an
industry that is less efficient, more costly and still more
dependent on state subsidy today than its nationalised predecessor.
The nine chapters in this work present a comprehensive and rigorous
evaluation of how and why the industry has become so dysfunctional
and costly, supported by detailed financial analysis and industry
examples. Seven chapters comprise a series of peer-reviewed
academic papers by Professor McCartney and Dr Stittle and published
in leading international journals over the period 2004–2017 which
analyse selected key segments of the privatised industry: where
appropriate, updates are provided at the end of these chapters
outlining developments since initial publication relevant to the
analysis therein. Two chapters are published here for the first
time: Chapter 7 reviews the performance of the freight sector,
while Chapter 1 ‘bookends’ the volume by providing first, an
account of how rail privatisation was conceived and implemented in
the 1980s/90s, and then reviews the impact of the pandemic and the
proposals of the Williams-Shapps White Paper of 2021 which, if
enacted, will effectively end the Major government’s experiment.
Going far beyond the usual superficial analysis of the topic, this
volume will be of significant interest to researchers and advanced
students of accounting, economics, business history, transport
studies, as well as industry and specialised business interests in
transport and privatisation.
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