Privatisation reversed nationalisation. The Government provided additional funds. Now there are tens of train operating companies running trains on tracks managed and operated by Railtrack. Profits have been extracted further depleting assets. Under investment has continued.
Safety appears to be less important than previously.
Sadly there have been a number of accidents involving fatalities. Public enquiries were convened and legal arguements commenced. The position reached a critical point in Autumn 2000 when a massive emergency engineering programme was initiated to identify and fix the highest risk elements in the network. The train companies and Railtrack are still not willing to spend the sums required to install the most advanced train safety systems. Emergency timetables have been issued.