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Privatisation 'failed' railways

Rail privatisation has led to the UK having the most expensive fares in Europe, older trains and serious overcrowding, and train operating companies entirely reliant on public subsidies, according to a new report commissioned by the TUC.

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Rail industry still 'relies on billions' of taxpayers' money

TUC policy officer Matt Dykes said that the country was made a "great deal of promises" at the time of rail privatisation.

Speaking to Daybreak he said: "What we're finding is on average, trains are older, there's overcrowding, we're paying the highest the fares in Europe."

He added: "The most important point, I think, is that the whole industry still relies on billions of pounds of taxpayers subsidy, much if which ends up being passed onto the share holders of the train operating companies, rather than being invested into the service."

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