RMT General Secretary Mick Lynch says "no privatisation has been successful" as Labour plans to renationalise the railways.

A Labour government would expect to transfer the 10 remaining privately run rail networks to public ownership “well within the first term” by folding existing private passenger rail contracts into a new body as they expire, Louise Haigh said at a launch event.

Kicking off her announcement at Trainline headquarters in central London, the shadow transport secretary said the UK deserves “to be proud” of its rail legacy.

She said that under the plan, the taxpayer would save £2.2 billion annually, but said she did not have agreement from shadow chancellor Rachel Reeves that all of those savings could be invested back into the railways.

Mick says: “Train operating companies haven’t invested a penny in railways in 30 years. We’ve subsidised them while they’ve taken £10bn in profit.”

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