During the post-war period the railways were nationalised after years of neglect by private owners, in many ways they were seen as key to building and enhancing Britain’s infrastructure.
Thatcherism changed all of that.
Two of its key aims were to sell off the family silver and enrich its supporters, so it was with Major’s breakup of the railways.
More examples of this Thatherite attitude has been seen recently:
“Network Rail has paid out £630,000 to four of its executive directors as a portion of their long-term incentive plan (L-tip) to reflect the organisation’s performance in the period 2009-12.
However, Network Rail’s remuneration committee decided to reduce the award by 20% to take into account specific safety and train performance issues.
Patrick Butcher, finance director, was awarded £168,000, while Robin Gisby, managing director of network operations and Simon Kirby, managing director of infrastructure projects, were awarded £158,000, and Paul Plummer, group strategy director was awarded £148,000. Chief executive David Higgins did not qualify because he was not with the organisation in 2009.”
In July 2012 even the Torygraph was moved to comment:
“The taxpayer-backed company is once again at the centre of a political row, after it put forward plans to pay five directors an extra £2.6 million under two new schemes.
Under the proposals, three directors at the company will get payments of £300,000 each in 2014 just for turning up to work for the next two years.”
It pointed out the dismal record of Network Rail’s management:
“Two months later, the operator was fined £4 million over the Grayrigg rail disaster that killed one person and seriously injured 28 others.
Within the last two years, Network Rail has also been fined £1 million over the deaths of two school girls at a level crossing in 2005 and £3 million over the Potters Bar crash in 2002 that left seven dead.
The company is also under pressure over its punctuality, leaving it in danger of a £42 million fine. It has a target of running 92 per cent of trains on time – or less than ten minutes late.
At the moment, it is only providing 89.2 per cent of services within these limits, risking a £1.5 million fine for each 0.1 per cent below the target. “
In the wake of bonuses for Network Rail senior management, the company was fined for penny pinching which led to a preventable death:
“During the trial, the jury was told Network Rail had failed to install an automatic barrier locking system at the site, when improvements were made in 2009, due to its expense.
The court heard the equipment would have cost an extra £40,000, although the firm said the true cost could be 10 times as much.
Prosecutors said Maund had raised the barriers after mistakenly thinking the Manchester Piccadilly to Milford Haven passenger service had already passed.”
Fined some £450,000 yet the management was rewarded. Thatcherism in action.