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South Western Railway (SWR) has been renationalised this weekend as part of the government’s transition towards Great British Railways.

The train operator officially came under public ownership at around 2am on Sunday – and the first journey, the 5.36am from Woking, was partly a rail replacement bus service due to engineering works.

So what difference will renationalisation make to passengers and will journeys be cheaper?

Pic: PA
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Pic: PA

What is nationalisation?

Nationalisation means the government taking control of industries or companies, taking them from private to public ownership.

Britain’s railway lines are currently run by train operating companies as franchises under fixed-term contracts, but Labour have said they want to take control of the lines when those fixed terms end.

In its manifesto, the party vowed to return rail journeys to public ownership within five years by establishing Great British Railways (GBR) to run both the network tracks and trains.

Transport Secretary Heidi Alexander said renationalising SWR was “a watershed moment in our work to return the railways to the service of passengers”.

“But I know that most users of the railway don’t spend much time thinking about who runs the trains – they just want them to work,” she added. “That’s why operators will have to meet rigorous performance standards and earn the right to be called Great British Railways.”

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How reliable are UK trains?

How will ticket prices be affected?

Labour have argued cutting off payments flowing into the private sector could save the taxpayer £150m a year.

But the government has not explicitly promised the savings made from nationalisation will be used to subsidise fees.

It is unlikely rail fares will fall as a result of nationalisation, rail analyst William Barter told Sky News.

“The government could mandate fare cuts if it wanted to, but there’s no sign it wants to,” he said.

“At the moment, I’m sure they would want to keep the money rather than give it back to passengers. The current operator aims to maximise revenue, and there’s no reason the government would want them to do anything differently under government control.”

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UK has most expensive train tickets in Europe

What difference will it make for passengers?

Britain’s railways are frequently plagued by delays, cuts to services and timetable issues, but Mr Barter said nationalisation will make very little day-to-day difference to passengers.

There was “no reason to think” the move would improve issues around delays and cancellation of services, he said.

“It’s going to be the same people, the same management,” he explained.

“The facts of what the operator has to deal with in terms of revenue, infrastructure, reliability, all the rest of it – they haven’t changed.”

Pic: PA
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Pic: PA

Which services are being next to be nationalised?

In the longer term, the move is likely to bring “a degree of certainty compared with relatively short-term franchises”, Mr Barter said, noting the government would only want to renationalise a franchise “because in one way or another something very bad is going on in that franchise, so in a way it can only get better”.

It also means the government will have greater accountability for fixing problems with punctuality and cancellations.

Mr Barter said: “If this is the government’s baby, then they’re going to do their best to make sure it doesn’t fail. So rather than having a franchise holder they can use as a political scapegoat, it’s theirs now.”

He added: “In the short term, I don’t think you’d expect to see any sort of change. Long term, you’ll see stability and integration bringing about gradual benefits. There’s not a silver bullet of that sort here.”

Next to be renationalised later this year will be c2c and Greater Anglia, while seven more companies will transfer over when their franchises end in the future.

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Rayner ‘hoping’ for winter fuel update within weeks – and says she ‘never’ wants to be Labour leader

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Rayner 'hoping' for winter fuel update within weeks - and says she 'never' wants to be Labour leader

Deputy Prime Minister Angela Rayner has told Sky News she “hopes” there will be an update on the winter fuel U-turn within weeks.

Ms Rayner also used her interview on Sunday Morning With Trevor Phillips to say she “never” wants to lead her party.

Some had suggested recent leaks of her plans for when taxes should change were her testing the waters to run a challenge against Sir Keir Starmer.

Politics latest: Badenoch on two-child cap

Earlier this week, the prime minister confirmed his party was looking to make changes to its controversial slashing of winter fuel payments to pensioners at an upcoming “fiscal event”.

Little clarity was provided on when this would be – the budget in the autumn thought the most likely.

Deputy Prime Minister Angela Rayner during a visit to Rossington Miners' Welfare in Doncaster, South Yorkshire, whilst campaigning for this week's local elections. Picture date: Wednesday April 30, 2025.
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Angela Rayner says she wants the changes announced soon. Pic: PA

Ms Rayner has now suggested the 11 June spending review in just over a fortnight is her preferred date.

She told Sky News: “I think that we’ve got the upcoming spending review, and I’m sure that the chancellor will set it out when we’ve got the opportunity – at the first opportunity Trevor she will set out what we’ll be able to do.”

Asked if changes might be announced at the review, Ms Rayner said: “I hope so, but I don’t know. But I hope so.

“I mean, the prime minister’s announced it, so logically to me that indicates that the prime minister wants to do something in this area.

“And if the prime minister wants to do that, I’m sure the chancellor is going to look at how we can achieve that.”

Read more:
Starmer confirms U-turn on winter fuel
Decision needs ‘strong enough’ economy
Analysis: It could have profound consequences

Never wants to be leader

Some might suggest Ms Rayner’s stance was a bid to push Downing Street into an announcement faster than it previously wanted.

It would add to rumours the deputy prime minister is unhappy with the way Sir Keir and Rachel Reeves are running the government.

However, when asked by Trevor Phillips if she wanted to lead her party, Ms Rayner was unequivocal.

“No. I’m very happy and honoured to be deputy prime minister of this country,” she said.

“And I’ve got a lot in my in-tray to prove that I can do the job that I’m doing and deliver on the milestones for the people in this country.”

She continued: “I have no desire to go for the leadership of the Labour Party.”

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Asked to say the word “never”, Ms Rayner repeated “never”.

Ms Rayner also confirmed a leak inquiry was under way after her proposals on tax and spend sent to the chancellor ended up published in The Daily Telegraph.

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Two-child benefit cap: Pressure grows on Starmer as Reform’s policy move parks tanks on Labour’s lawn

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Two-child benefit cap: Pressure grows on Starmer as Reform's policy move parks tanks on Labour's lawn

No U-turn comes without a political cost.

This weekend, it has become clear there is a price to pay for Sir Keir Starmer’s decision to row back on winter fuel payment cuts.

One MP said in a text message: “We all want to see more”, while former prime minister Gordon Brown told Sky News this week the two-child benefit cap was “pretty discriminatory” and could be scrapped.

Nigel Farage
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Nigel Farage is expected to call for the two-child benefit cap to be scrapped

The cap, which prevents parents from claiming child tax credit or universal credit for more than two children, is a symbolic sore for Labour that saw seven MPs suspended from the party last year.

Now it’s back to cause more trouble.

A Downing Street source suggests little has changed in the last week, and looking at the cap has always been part of the (now delayed) Child Poverty Strategy.

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‘You’ve got to be fair to pensioners’

But, beyond the whispers behind the scenes, one thing has overtly changed this weekend – growing pressure from Nigel Farage.

We expect Reform UK to announce this week that it will reinstate winter fuel payments and drop the cap.

Mr Farage is parking his tanks on Labour’s lawn, trying to tap into working-class votes on uncomfortable territory for Mr Starmer.

How would they pay for it? A combination of closing asylum hotels, cutting aid, and scrapping net-zero targets, the party says.

Kemi Badenoch on Sunday Morning with Trevor Phillips.
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Conservative leader Kemi Badenoch

Headline-grabbing move

The beauty of not being in power is not having to make all the sums add up right now, and it is a headline-grabbing announcement that will, at the very least, reignite the conversation about the two-child cap.

It’s also a reminder that Reform UK, who were beaten by Labour in 89 out of the 98 constituencies they came second in last year, have set their sights beyond the Conservatives.

As for the Tories, who introduced the measure in 2017, leader Kemi Badenoch is clear, saying: “If you can’t afford to have lots of children, then you shouldn’t do so”.

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Deputy Prime Minister Angela Rayner is hoping for an update on the winter fuel allowance

Blue water between Tories and Reform UK

So, there is blue water between the Conservatives and Reform, but it’s the prime minister and his party that Nigel Farage is targeting now, and Labour is unclear on where it stands.

Deputy leader Angela Rayner told Sunday Morning With Trevor Phillips that “lifting any measures that alleviate poverty is not a bad idea”.

More from Sky News:
PM’s winter fuel claim ‘not credible’
Starmer-Reeves Downing St ‘rift’

With the spending review fast approaching, Sir Keir and Chancellor Rachel Reeves will be working out the actual cost, beyond the political one, of rowing back on winter fuel payment cuts.

But will the anger that the policy ignited among some Labour MPs end there? Or will it move to another uncomfortable subject?

As one MP puts it: “If there’s money for pensioners, why not children?”

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Related: Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan unveils tax incentives to attract investors

Per the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.

To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.

Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.

Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.

The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.

Related: Pakistan proposes compliance-based crypto regulatory framework — Report

Pakistan creates Digital Asset Authority

On May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.

The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: Chainalysis

Data from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.

Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

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