Virgin Trains and Stagecoach must be punished harder – for their own good

The very existence of rail franchising is threatened by the cycle of overbidding and collapse. Firms should welcome disciplineThe railways and profit do not sit easily together, largely because a carriage load of other considerations need to be weighed first: safety, punctuality, affordability. The presence of private rail operators on our infrastructure is therefore contingent on the public accepting this added, complicating consideration.One way of keeping that delicate compact in place is to