British railways nationalizedIn 1948, nationalization of the railways in Britain formed British Railways from the four private companies: LMS (London, Midland and Scottish), LNER (London and North Eastern Railway), the Southern and the Great Western. The Big Four companies had been privately owned and operating since 1 Jan 1923 as compulsory amalgamations of over one hundred smaller Victorian railway companies. The nationalization was implemented by the post-war Labour government. During WW II, the railway assets had deteriorated and there was a huge backlog of necessary repairs to the track, locomotives and rolling stock. In the early 1960s, the Conservative government required the closure of branch lines that were no longer economically justified. These drastic changes were effected by Dr. Richard Beeching.«[Image: British Railways Coat of Arms 1948-56.] |
