Chris Grayling met representatives of a dozen banks and funds to discuss how they could make private profit from public transport.

The latest government transparency returns show the Transport Secretary held a meeting with companies to discuss “private investment in transport infrastructure” in February.

Two thirds of the firms were foreign-owned and many had been involved in previous privatisations of British assets or expensive PFI deals:

 

Hermes were one half of the group that bought Britain’s share in Eurostar for the knock down price of £750 million – branded “pure Thatcherite industrial vandalism” by the RMT union.

They and CPPIB – the Canadian Pension Plan Investment Board – bought 30% of Britain’s port operator, Associated British Ports, in 2015.

Canadian pension funds now own so much British infrastructure, including High Speed One, that the Telegraph ran a profile of them headlined: “The Canadian pensioners who own Britain.”

British firm Infracapital and the famous French Rothschilds bank were both linked to the Tories last attempt to re-privatise Network Rail.

Rothschild have been the Government’s go to advisors in the privatisation of everything from British Gas to student debt.

The other companies at the meeting include two Chinese banks, Abu Dhabi’s sovereign wealth fund, a US private equity firm, two firms specialising in PFI deals, and a British pension fund.

Scrapbook’s industry source suggests it could be connected to Network Rail – Grayling launched a fresh bid to privatise the body in December.

Big business representatives were said to be “salivating” over the prospect of getting their hands on Network Rail at a meeting with his predecessor, Patrick McLoughlin.

Whatever Grayling’s trying to flog, one thing is for sure: Something’s always for sale under the Tories…

  1. Stop privatising national assets. Managed properly we can invest some of the profits back into our countries infrastructure and use what is left to fund public services. I do not want to line the pockets of the wealthy. I want a Repulic that is governed for all the people not just millionaires.

  2. Our essential services such as transportation, electricity, etc, should always be run/controlled by the national government! Well said, Martin. JC4PM.

  3. Eileen Foulner says:

    Can the Tories actually say they are for Great Britain when they sell everything of? Thatcher sold the family silver, Labour sold of the gold – now this government is selling off all our other assets. What is left – the feifdom who are being used as a means to working to line the pockets of other countries and the rich.

  4. There is no need to sell our country’s assets. It will eventually lead to total loss of control and the Chinese will just walk in like they did on Tibet.
    They need to buy back our assets and quick.

  5. Chris Kitcher says:

    Grayling ,the prat, should never be in government. We need sensible politicians and he falls short by miles.

  6. Andy Blackurn says:

    Privatisations have run their course, failure. Lets have a properly run publicly owned system.
    Railways
    Electricity
    Gas
    Water
    All of the money that the private owners put in their pockets could then be used to improve the service

  7. John Smith-Warren says:

    The CONservative party are selling all our assets off so that Labour can renationalise them and, if the Tories regain power, they can sell them off again to their friends.

  8. Last time they sold off Network Rail – or Railtrack as it was then – private contractors were brought in to say money – although costs went up – and there were 3 major accidents where that system was proven to be at fault and two more accidents where it was a contributory factor.
    Lessons not learned or ignored for greed

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