tag:blogger.com,1999:blog-2807967329010536074.post6450079125588515401..comments2023-07-09T16:11:35.984+01:00Comments on No to High Speed 2: Great Western franchise to be handed back earlyPhysiocrathttp://www.blogger.com/profile/13682019625346594568noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2807967329010536074.post-62403586068933364772011-05-16T14:41:04.171+01:002011-05-16T14:41:04.171+01:00This appears to underline the incompetence of the ...This appears to underline the incompetence of the DfT. Of £1,100 million to be paid by firstGroup over the ten year period £826million (over 70%) was in the optional final three years.<br /><br />In other words only ~£270 million of the supposed £1100 franchise bid has been paid.<br /><br />The only people likely to be convince by firstGroups's characterisation of the early withdrawal as a "tactical move" are their fools (chums?) in the DfT.<br /><br />In other news firstGroup paid £128 last year for the franchise but received in return a £141 million top up from the government. Other figures include a 6.8% increase in revenues and a 23% increase in profit for firstGroup's rail operations in the same period...<br /><br />It's difficult to believe that firstGroup ever intended to complete the franchise.<br /><br />see also or google the quote "thinly-capitalised equity profiteers of the worst kind" (Shriti Baroness Vadera)Anonymousnoreply@blogger.com