Received from: ASLEF
Congress commends ASLEF’s campaign ‘Own Our Trains’ which highlights the massive loss of public funding caused by leasing rolling stock through Rolling Stock Companies (ROSCOs).
Congress notes that, in 2024–25, 30.6 per cent of train operator expenditure was spent on leasing costs and that the use of private finance is up to 70 per cent more expensive than publicly financed investment.
Congress agrees with ASLEF that this money could be better spent on investing in railway infrastructure and lowering ticket prices to promote modal shift to public transport.
Congress also agrees that the use of ROSCOs means money is lost to the railway via shareholder profits at a time when we are bringing passenger franchises back into public ownership to avoid this very issue. Further, ROSCOs present a barrier to the effective planning of the railway with third party agreement needing to be sought when rolling stock needs to be renewed and upgraded and with contracts needing to be changed to enable rolling stock to be cascaded.
Congress recognises the need for a better system for financing rolling stock which will result in public ownership and control and will continue to lobby for this as part of the ongoing campaign for the delivery of a progressive transport agenda.
Therefore, Congress calls on the TUC General Council to:
i. endorse and support ASLEF’s ‘Own Our Trains’ campaign
ii. lobby the government to use alternatives to financing rolling stock which will remove the profiteering of ROSCOs and result in public ownership.
ASLEF