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Railway Franchising in Great Britain and Effects of the 2008/09 Economic Recession

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  • Richard D Knowles

    (Research Centre for Urban Change, University of Salford, Salford M5 4WT, England)

Abstract

Since 2008 Britain's passenger railway franchises have been under twin stresses. Due to economic recession, the growth in passengers and revenues temporarily slowed or reversed whilst franchise agreements require train operators to increase financial commitments from their franchise agreements. At the same time, government was cutting its share of rail revenue budgets. National Express East Coast was unable to meet its franchise commitments and its contract was cancelled. This paper analyses the differing effects of the 2008/09 economic recession on rail usage in each of the London and South East commuter, Long Distance intercity, and Regional franchise sectors and on rail industry finances. The case for longer franchises is considered both as a means of securing more private sector investment in rolling stock, stations, and rail services, and as a mechanism for surviving temporary economic downturns.

Suggested Citation

  • Richard D Knowles, 2013. "Railway Franchising in Great Britain and Effects of the 2008/09 Economic Recession," Environment and Planning A, , vol. 45(1), pages 197-216, January.
    • Handle: RePEc:sae:envira:v:45:y:2013:i:1:p:197-216
    DOI: 10.1068/a4577
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    References listed on IDEAS

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    1. Michael G. Pollitt & Andrew S. J. Smith, 2002. "The restructuring and privatisation of British Rail: was it really that bad?," Fiscal Studies, Institute for Fiscal Studies, vol. 23(4), pages 463-502, December.
    2. Smith, Andrew S.J., 2012. "The application of stochastic frontier panel models in economic regulation: Experience from the European rail sector," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(2), pages 503-515.
    3. Jonathan Cowie, 2009. "The British Passenger Rail Privatisation: Conclusions on Subsidy and Efficiency from the First Round of Franchises," Journal of Transport Economics and Policy, University of Bath, vol. 43(1), pages 85-104, January.
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    Cited by:

    1. Preston, John & Bickel, Charles, 2020. "And the beat goes on. The continued trials and tribulations of passenger rail franchising in Great Britain," Research in Transportation Economics, Elsevier, vol. 83(C).

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