Network rail in over £50bn of debt due to privatisation
There's been some talk in the right wing press about how Labours plan to nationalise our public services would be bad for the country. Little of this talk however is based on fact or takes into account the current situation with many of our public services run by private companies.
Our rail networks for instance are run by private companies partly or wholly owned by the state rail companies of other countries. The publicly owned Network Rail is now in debt to the tune of over £50billion due to having to pay a profit to these companies. This is money that could be spent instead on cheaper rail fares and repairs to the railway lines.