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Train companies respond to MPs Rail 2020 report

Responding to the House of Commons Transport Committee report “Rail 2020”, Michael Roberts, chief executive of the Association of Train Operating Companies, said: 

“We flatly reject the unfounded accusation that train companies are profiteering, an allegation which appears to be based on hearsay and flies in the face of the report’s own explicit statement that profits are ‘relatively small’.

“The report says train companies’ unit costs have not come down, but the Regulator in November said that these costs have fallen 12% since 2001 and we expect to bring these down further still.

“We note the Committee does not consider franchising to be fundamentally flawed and agree with its assessment that government micro-management can be costly and stifle creativity.”

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