Network Rail should own rolling stock - Carmichael

12.00.00am BST (GMT +0100) Thu 26th Apr 2007

Welcoming the announcement that the UK system of leasing trains and carriages to rail companies is to be investigated by the competition watchdog, Liberal Democrat Shadow Transport Secretary, Alistair Carmichael MP said: "It is obvious that the current way in which trains are owned and then leased to train operators is very inefficient.

"These rolling stock companies are little more than cash cows for the major banks which own them.

"It is disappointing that the Department for Transport has not acted to solve this problem itself, which was created by the Tories' privatisation.

"A much better option would be to allow Network Rail to own the trains and lease them directly to the train operators. This would bring better integration between track and train and ensure less money drains out of the system."