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Originally Posted by BBKing
The Treasury certainly required a return on investment above what seemed reasonable (and different to that applied to roads). 8% is a figure I'm dredging up. This was one of the causes of the astonishingly cheap electrification of the East Coast line, £306m.
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Exactly the point I was making.. I seem to remember 8% as the figure too..
Anyway, as a side point, it would be interesting to know how much was paid in subsidies to persuade companies to take on franchises. I seem to remember it was in the high hundreds of millions, if not the low billions.