LONDON -- Transport Secretary Stephen Byers said Sunday (January 20) that there would be no big increases in railway fares to fund private investment in UK railways, according to the London Times.
The secretary said that price rises were not part of the government's ten-year rail plan and that passengers would be entitled to complain if there were.
Byers also told BBC1's On the Record that the government would not guarantee future Railtrack debts, the Times reported. "We are moving away from a situation where the Government would be regarded as a guarantor of last resort to the private sector," Byers said.
"One of the attractions for the government of Public Private Partnership is that the commercial risk transfers over," Byers said. "Provided they (the private sector) deliver on the contract, they get the benefits of the terms of that agreement."
Byers repeated his acknowledgement that the railways were "not fit for the 21st century" but said he was creating the conditions to reform the industry. "There will be improvements by the next election otherwise I will be in certain difficulties as Secretary of State for Transport," he said.
Byers also said that information on the "value for money" tests of Public Private Partnership contracts for London Underground would be released in the second week of February, and a decision on whether to implement them taken three weeks later.