Rail union says Eurostar sell-off echoes ‘botched’ Royal Mail sale
Rail union RMT today accused the UK Government of "stupidity and pure fiscal incompetence" as reports emerged that French state-owned rail operator SNCF could buy Britain’s stake in Eurostar.
The Government announced last year that its 40% holding in the Anglo-French high speed rail company could be sold off by 2020 as part of a £20 billion privatisation programme. Of the remaining shares, 55% are owned by SNCF and 5% by the Belgian state railway.
However, RMT claimed that SNCF, which has a power of veto over any British sale, won’t allow any sell-off to be conducted under the usual franchising rules, so it would be in a position to pick up the holding at a knock down price if the sale goes ahead.
The union said the planned sale "has distinct echoes of the botched and costly Royal Mail sell off".
It also comes on the back of the award to French state-backed Keolis of franchises to run rail operations on the new super-Thameslink network as part of a consortium and the Docklands Light Railway.
RMT acting general secretary Mick Cash said: "RMT always said that the planned sell off of the highly-profitable British public stake in Eurostar was pure Thatcherite ideology and the latest reports that the French state can effectively take it over on their own terms just rams home that point.
"With Keolis mopping up franchises like Thameslink and DLR it is as clear as day that this right-wing Government are quite happy to have state ownership of Britain’s railways as long as it isn’t by the British state and as long as the financial benefits aren’t invested in our rail services.
"The policy on rail in Britain is a poisonous combination of stupidity, right-wing ideology and sheer fiscal incompetence. The Eurostar sell-off must be halted now."
The UK Government admits that advisors were appointed earlier this year to review whether it would be in the British taxpayer’s interest to press ahead with a sale of the Eurostar holding, but it is understood that no decision has yet been made.
Government sources told the Telegraph that no formal sale process is under way.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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