TAX PAID BY RAILWAY COMPANIES

That this House notes the report by the Tax Justice Network for the RMT union that the privatised rail industry is profiteering from £1.3 billion in unpaid tax and is using a deferred-tax loophole intended to encourage investment to instead fund increases in dividend payouts to shareholders; is appalled that whilst private rail companies are profiting from this tax loophole passengers are being asked to pay higher rail fares and endure delays and overcrowding on many rail services; therefore urges the Chancellor of the Exchequer to use the forthcoming Budget to announce that this tax loophole will be closed; and believes that this further example of shameless profiteering at passengers' expense once again demonstrates the need for a publicly owned and publicly accountable railway.