Are there financial lessons that Britain can teach other European railway systems?

Many would scoff at the idea, noting the much higher unit costs and average fares here than in most European countries, and the bizarre sight of our supposedly privatised railway having so much central Government control, interference and subsidy.

Yesterday’s National Passenger Survey revealed our shockingly low level of passenger satisfaction on value for money.

But a conference to be held in the European Parliament will explore value for money in this context, using experience in Britain to develop new legislation on the rail market in Europe.

However, perhaps because Britain has performed so badly in delivering low cost journeys via rail, it has had to work harder to plan to turn this around.

McNulty’s rail review is not evidence of a success story, it is an industry trying desperately to make savings and cut costs. Sometimes learning from other countries’ mistakes is more helpful than aspiring to be like one that has got everything right.