CUT FARES NOT STAFF

RMT helpline 0800 376 3706 :: january 2020 :: RMTnews 14 RM RM RM RMT T T T he he he he he he he he he help lp lp lp lp lp lp lp lp lplililililililililililine ne ne ne ne ne ne ne 080 80 80 80 80 80 80 80 80 80 80 800 0 0 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 3 6 6 6 6 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 37 3 06 06 06 06 06 06 06 06 06 06 06 06 06 06 06 06 06 06 06 0 :::::::::: jajajajajajajajajajajajajajajajajajajajajajajajaj nu nu nu nu nu nu nu nu nu n ar ar ar ar ary y y y y 20 20 20 20 2020 20 20 20 20 :::::::::::: T RMT RMT RMT MT RMT M RMT MT RM RMT R T RM RM R Tne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne ne news ws ws ws ws ws ws ws ws ws ws ws w RMT joined protesters around the country earlier this month to demonstrate against inflation-busting rail fare increases of 2.7 per cent, pricing many passengers off the network. The fare rises came as it was revealed that German rail giant Deutsche Bahn (DB), which runs 21 per cent of franchises in Britain and raked in £4.6 billion in overseas transport profits last year, was slashing fares in Germany by ten per cent while hiking them abroad. Manfred Rudhart, head of Arriva which was bought by DB in 2010, also received an 18 per cent pay increase, taking his earnings to £1.34 million a year. The pay rise came as it was announced that Arriva would lose its Northern Rail contract because of ‘nightmare’ services. The union also slammed the rail privateers that were ‘laughing all the way to the bank’ after it exposed the full extent of shareholders’ bonanza. The union analysed the company accounts of every train operating company that had held a franchise since 2010 together with those of the three rolling stock companies (Roscos). The figures, published in ‘Counting the Costs of Privatisation’, revealed that the Train Operating Companies (TOCs) have paid out a total £2.05 billion in dividends to their shareholders since 2010, while the Roscos, who make their money from leasing trains to the TOCs paid out £2.39 billion to their shareholders, often based in low tax jurisdictions like Luxemburg. Every year, on average, these companies channel £483 million out of the industry to their shareholders, a sum that equates to five per cent of passenger fare revenue in 2017/18. That means that over the next five years of Tory government, we can expect that the network will see a further £2.4 billion disappear into shareholders’ pockets. RMT general secretary Mick Cash said that the figures were an absolute disgrace. “Passengers and the public are paying through the nose in fares and subsidies and the private companies who have made such a mess of our railways are laughing all the way to the bank. “Think what we could do with the £4.4 billion we’ve lost over the last ten years and we just can’t afford another five years of this rip off. “Instead of attacking railway workers’ rights, the government needs to look closer to home at the companies making millions out of the racket on our railways,” he said. Additional RMT research shows just how this profiteering has hit passengers in the pocket: • Average season ticket increases by 2024 will massively outstrip wages • There has been a 33 per cent average increase in season tickets since 2010 compares to a 23 per cent increase in average wages • A 45 per cent increase in fares from the 2010 baseline is projected by 2024 • Many season tickets are set to rise by almost 60 per cent by 2024 compared to a 35 per cent projected increase in wages over the same period. CUT FARES, NOT STAFF As fares rise again, RMT reveals that private rail companies have siphoned off £4.4 billion in dividends over ten years