Credit crisis hits new trains

Whilst The Big Grin Engine has ensured that English rail expansion is off the agenda the situation North of the border couldn't be more different.

There devolution has empowered the Scottish Executive to sponsor six major projects, including five line reopenings, to the tune of £1.5bn.

And whilst English TOCs wait for the Dullards at Daft to address the chronic shortage of trains, Transport Scotland has already set about procuring 120 new vehicles to strengthen services on the thriving Glasgow/Ayr and Glasgow Airport routes.

Despite rearguard lobbying from UNITE the manufacturer has already been chosen (Siemens) and the ROSCO appointed (HSBC) but now the deal starts to get messy.

Tartan sources advise that the new train order should have been announced some months ago but this has been delayed several times as the banking crisis worsens.

With a credit squeeze taking place and higher premiums on borrowing there are more attractive deals for the money to chase.

Before chums in the South East get too smug at their Scots' cousins misfortunes The Fact Compiler urges caution.

Whispers reach him that the credit crunch is also impacting on Southern's order for new dual-voltage Electrostars, needed to meet the revised service in Thameslink Key Output 0.