Ministry of truth

Telegrammed by our man at 222 Marylebone Road
In its press release seeking to justify its members' swingeing fares increases ATOC claimed:

"Investment is the key to better services and train companies are continuing to invest huge sums – like the £4.5 billion on new trains over ten years.

"In 2008 train companies invested in:

• £190 million on new trains for London Midland.
• £150 million on refurbishing train fleets across the network."

If ATOC Chief Michael Roberts were Pinocchio, Eye calculates that his nose would now stretch halfway to the moon.

As any fule kno it is the Rolling Stock companies and their owning banks which actually invest in the trains.

All the TOCs do is pay the lease rentals which, unless DafT has anything to do with it, pay a return on the investment over a very long period of time.

But no doubt ATOC is only obeying Dr Mike Stalin's instructions to airbrush the ROSCOs out of railway history.