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I don't think vertical or horizontal makes much difference......both have pro's and con's.....The problem lies in that ultimately the entire industry is still dependant on government financing.....Here's a bit of Rail regulation.......Network Rail goes to the Rail Regulator and requests a rise in track charges to enable it to maintain and improve the network - say 10% - The Rail Regulator says ok increase charges by 8% and make the nescessary savings somewhere.....Network Rail increases track access by 8% and then GNER or Beardy Rail..sorry Virgin goes to the Dept of Transport and requests the extra funding for the 8% increase......and guess what? The Dept of Transport pay up........because the 1992 Railways Act is a soveriegn piece of legislation passed by Her Majesty's Parliament.....So the Rail Regulator has the power, the Dept. of Transport begin to re-hate Railway's because of the drain on the Departments budget and the Passengers and Industry suffer........Only a true free market system will work........but what about those Branchlines!!!!!!!!!!
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