I am very grateful to the Minister and all the other noble Lords who have participated in tonight’s debate. Let me make it clear that my proposal would not stymie competition among manufacturers. It seeks to eliminate the financial intermediaries that are making 41.6% profit on top of whatever the manufacturers are paid. These roscos do not make trains and they do not test them; they are there simply to make extra profits. Competition among manufacturers will remain.
The Minister has said that the Government do not wish to buy back rolling stock companies. I am not asking the Government to buy back rolling stock companies. I am suggesting setting up a Great British Railways leasing company, so that these intermediaries can be eliminated. That would wipe them out, and my estimate is that it would save probably around £2 billion a year. I refer only to one company, which had taken out £750 million over a two-year period. It would be beneficial to set up a Great British Railways leasing company. However, I hear the Minister’s arguments and will reflect upon them. For the time being, I will not move the amendment.