Monday, January 01, 2018

Cable: How can Grayling survive if Lord Adonis' accusations are correct?

Vince Cable has said it is difficult to see how Chris Grayling can survive as Transport Secretary if criticisms made by Lord Adonis over bailing out the East Coast rail franchise are correct.

Liberal Democrat Leader Vince Cable said:

"This is a lethal criticism of the Transport Secretary's mishandling of rail franchises.

"It would appear that the government is handing out millions of pounds in subsidy to Virgin Rail and Stagecoach for failing to meet their financial objectives.

"This makes a complete mockery of the entire principle of rail franchising, that companies compete and take a hit if they miscalculate the market and don't get their sums right.

"It’s difficult to see how Mr Grayling can survive if Lord Adonis’ accusations are correct."

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