RAILWAYS: ACCOUNTING FOR DISASTER

In examining the gloomy picture recently painted of British Railways, the authors say the basis has been a failure to distinguish between bookkeeping and economics, and between money and resources. Railways operate as a closed-loop commercial system, while money reaches the highways from numerous sources. Railways have to show an internal commercial return of 8 to 10 percent on capital for all new works. Savings used for justifying highway improvements do not, in any strict sense, represent an economic return because road users do not pay interest on motorway investment. The many transport accounting anomalies mean no government can make responsible decisions about the future of railways on the basis of the present antiquated system of bookkeeping.

  • Availability:
  • Corporate Authors:

    New Science Publications

    128 Long Acre
    London,   England  WC2 9QH
  • Authors:
    • OGILVIE, J
    • Johnson, B
  • Publication Date: 1975-10-23

Media Info

  • Pagination: p. 228-29
  • Serial:
    • NEW SCIENTIST
    • Volume: 68
    • Issue Number: 972
    • Publisher: REED BUSINESS INFORMATION LTD
    • ISSN: 0262-4079

Subject/Index Terms

Filing Info

  • Accession Number: 00128195
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Dec 29 1976 12:00AM