Like the East Coast Main Line twice, RBS failed spectacularly in the private sector.
But in the public sector, the East Coast Main Line requires less subsidy than any of the private rail franchise-holders, while RBS is in profit.
Therefore, apparently, both the East Coast Main Line for a third time, and RBS, must be returned to the private sector.
The irrational fanatics in this debate are not on the side of public ownership. We are the pragmatists.
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