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A pounds 20bn ticket, but where to? Network Rail receives vast state subsidies but still the trains don't run on time. Is more restructuring the answer - and can it raise its own debts? asks JonathanRussell

About 5 pages (1,569 words)

The Sunday Telegraph London, April 8th, 2007

Tuesday's news that Network Rail is to spend pounds 2.4bn on railway expansion is unlikely to have cheered many of the 3m people who used the network that day. Despite the "unveiling'' of a doubling in the amount of money going into expansion and details of some of the 900 individual projects to receive the money, their journeys would have been just as crammed and the signals just as likely to fail. But they could have consoled themselves with the thought that something is being done; steps are being taken to put things right. And they would be quite right, because strangely enough, of the 90...

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