British Railways (BR), which from 1965 traded as British Rail, was a state-owned company that operated most of the overground rail transport in Great Britain from 1948 to 1997. It was formed from the nationalisation of the Big Four British railway companies, and was privatised in stages between 1994 and 1997. Originally a trading brand of the Railway Executive of the British Transport Commission, it became an independent statutory corporation in January 1963, when it was formally renamed the British Railways Board.[1]
The period of nationalisation saw sweeping changes in the railway. A process of dieselisation and electrification took place. By 1968 steam locomotives had been entirely replaced by diesel and electric traction, except for the Vale of Rheidol Railway (a narrow-gauge tourist line). Passengers replaced freight as the main source of business, and one-third of the network was closed by the Beeching cuts of the 1960s in an effort to reduce rail subsidies.
On privatisation, responsibility for track, signalling and stations was transferred to Railtrack (later brought under public control as Network Rail), with services run by train operating companies. The British Rail Double Arrow logo remains in place and is now employed as a generic symbol on street signs in Great Britain denoting railway stations.[2]
The rail transport system in Great Britain developed during the 19th century. After the grouping of 1923 under the Railways Act 1921, there were four large railway companies, each dominating its own geographic area: the Great Western Railway (GWR), the London, Midland and Scottish Railway (LMS), the London and North Eastern Railway (LNER) and the Southern Railway (SR). During World War I, the railways were under state control, which continued until 1921. Complete nationalisation had been considered, and the Railways Act 1921[3] is sometimes considered as a precursor to that, but the concept was rejected. Nationalisation was subsequently carried out after World War II, under the Transport Act 1947. This Act made provision for the nationalisation of the network as part of a policy of nationalising public services by Clement Attlee's Labour Government. British Railways came into existence as the business name of the Railway Executive of the British Transport Commission (BTC) on 1 January 1948 when it took over the assets of the Big Four.[4]
There were also joint railways between the Big Four and a few light railways to consider (see list of constituents of British Railways). Excluded from nationalisation were industrial lines like the Oxfordshire Ironstone Railway. The London Underground – publicly owned since 1933 – was also nationalised, becoming the London Transport Executive of the British Transport Commission. The Bicester Military Railway was already run by the government. The electric Liverpool Overhead Railway was also excluded from nationalisation.[5]
The Railway Executive was conscious that some lines on the (then very dense) network were unprofitable and hard to justify socially, and a programme of closures began almost immediately after nationalisation. However, the general financial position of BR became gradually poorer until an operating loss was recorded in 1955. The Executive itself had been abolished in 1953 by the Conservative government, and control of BR transferred to the parent Commission. Other changes to the British Transport Commission at the same time included the return of road haulage to the private sector; however, BR retained its own (smaller) inhouse road haulage service.
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