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New Labour, Public–Private Partnerships And Rail Transport Policy

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  • Robert Jupe

Abstract

The New Labour government has favoured the deployment of Public–Private Partnerships (PPPs) to provide investment in transport infrastructure. The results of this policy on the railways have, however, been disappointing in terms of cost and efficiency. Public transport PPPs require complex contracts underpinned by regulatory mechanisms in order to maintain performance and safety standards. Moreover, risk transfer is difficult to achieve, as essential infrastructure cannot be left to the ultimate market discipline of bankruptcy.

Suggested Citation

  • Robert Jupe, 2009. "New Labour, Public–Private Partnerships And Rail Transport Policy," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 20-25, March.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:1:p:20-25
    DOI: 10.1111/j.1468-0270.2009.01862.x
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    File URL: https://doi.org/10.1111/j.1468-0270.2009.01862.x
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    References listed on IDEAS

    as
    1. David Tyrrall, 2004. "The Uk Railway Privatisation : Failing To Succeed?," Economic Affairs, Wiley Blackwell, vol. 24(3), pages 32-38, September.
    2. Robert Jupe, 2005. "The Future of Rail? An Evaluation of the 2004 Railway Industry White Paper," Public Money & Management, Taylor & Francis Journals, vol. 25(3), pages 187-194, June.
    3. Jean Shaoul, 2006. "The Cost of Operating Britain's Privatized Railways," Public Money & Management, Taylor & Francis Journals, vol. 26(3), pages 151-158, June.
    4. David Tyrrall & David Parker, 2005. "The Fragmentation of a Railway: A Study of Organizational Change," Journal of Management Studies, Wiley Blackwell, vol. 42(3), pages 507-537, May.
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    Cited by:

    1. Graeme Hodge & Carsten Greve, 2013. "Public–private partnership in developing and governing mega-projects," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 9, pages 182-208, Edward Elgar Publishing.
    2. Graeme A. Hodge, 2010. "Reviewing Public–Private Partnerships: Some Thoughts on Evaluation," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 5, Edward Elgar Publishing.
    3. Aidan R. Vining & David L. Weimer, 2016. "The challenges of fractionalized property rights in public‐private hybrid organizations: The good, the bad, and the ugly," Regulation & Governance, John Wiley & Sons, vol. 10(2), pages 161-178, June.
    4. Kokkaew, Nakhon & Oliveira Cruz, Carlos & Alexander, Derek, 2015. "The impact of rule of laws on the recovery of distressed PPP infrastructure Projects," MPRA Paper 77494, University Library of Munich, Germany.

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