alt Hacker NewsThe one good thing is that they failed to take it private. Imagine how bad it would be with the current maintenance backlog and no public funding.
The one good thing is that they failed to take it private. Imagine how bad it would be with the current maintenance backlog and no public funding.
The New Zealand government sold their rail system, then Toll didn't make a success of it, so the government bought it back at a massive loss.
Now rail is just a nightmare moneypit. But older voters love rail "it's efficient" so the government panders to them and wastes more expenditure on it.
Edit: Currently for every $1.50 tax income from road user taxes and petroleum taxes: $1 is spent on roads, and 50 cents is spent on "rail". Crap. Rail is paid for by cars but is mostly waste.