A government run train system slowly becomes a welfare program.
But as a welfare program the British Rail system costs less to operate than it costs in private hands, which is an even bigger welfare scam.
The taxpayers are paying three times as much for tickets on the privatised services as they were paying before privatisation AND STILL coughing up the same amount in subsidies to keep those companies afloat.
In other words, privatisation only works when the overall subsidy (passenger+government) is triple the subsidy needed by the state owned the “operator of last resort”.