Labour widens railway nationalisation door

The Labour Party has unveiled more proposals to renationalise the passenger railway, as rumours of a snap election continue to grow. The party’s plans now go further than simply allowing franchises to terminate over time. Shadow chancellor John McDonnell said he is investigating which franchise contracts have break clauses. Where these exist, either party can end the franchise at that point without penalty. He is proposing to create a new Public Ownership Unit within the Treasury to oversee nationalisation plans which could involve a number of industries and Private Finance Initiatives.