EARLY DAY MOTION 696 - LONDON OVERGROUND RAIL

I have signed Early Day Motion 696 on London Overground Rail.

That this House notes that London Overground rail services are portrayed as public rail services run by Transport for London; is concerned however that this masks the reality that London Overground is in fact a private rail franchise jointly operated by subsidiaries of Hong Kong and German state railways, who have ensured that almost £22 million of their share of revenue has been paid out in dividends between 2011 and 2014; is dismayed that these profits could have been used to fund an average year on year fare cut of 6.5 per cent for Londoners but instead are ultimately being used to support the railways of Berlin and Hong Kong; is deeply concerned that the subsidy from Londoners to foreign railways is set to continue, as the only bidders for next London Overground contract are subsidiaries of French, German, Hong Kong and Singapore railways; and calls for London passengers to be put before profit by allowing London Overground services to be operated directly in public ownership.

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