i'm working with the new board to oversee the operation of the lner route.ting tea m centres of both the train operating team and network rail and independent members who will ensure the interests of other operators on this route taken into account. i will appoint an interim jerked sharply and begin the recruitment process for long—term appointment. when it is fully formed the new lner operation will be a partnership between the public and private sectors. it was remain in the public sectors. it was remain in the public sector but i believe the railway is at its strongest when a genuine partnership between public and private. the final structure of the lner will have to be in conformity with regulations that the industry but the simple goal will be it does the work it does that the existing operators have done and continues at work in improving services for passengers. time now for the look of the businesses. i'm vishala sri—pathma — in the business news... a rotten corporate culture and "a story of recklessness, hubris and greed" led to carillion's collapse

when it is fully formed, mr speaker, the new lner operation will be a partnership between the publicrs. in all circumstances, ownership of the infrastructure will remain in the public sector but i believe the railway is at its strongest when it is a genuine partnership between public and private. labour's shadow transport secretary andy mcdonald criticised the government's handling of the east coast rail franchise and told the commons the service should be nationalised. the announcement today is yet another monumental misjudgement to add to a growing list of miscalculations by this secretary of state. members across this house can be in no doubt, the bail out culture for the department for transport is alive and well. it's never been better. virgin stagecoach failed to deliver on their contracts on the east coast route. no problem. the government will step in and bail them out, kissing goodbye to the £2 billion virgin had previously agreed to pay. with me is our business correspondent, theo leggett. how did we get to this stage? this isn't even the first time the east coast main line

through the recreation of one of britain's iconic rail brands, the london and north eastern railway, the lnerurious about the release of mr grayling's statement. as i sit here right now i've still not been provided with a copy of the statement. i consider this to be absolutely reprehensible and this secretary of state does every single time, he asks and relies upon confidentiality and market sensitivity, every single time. he treats me with contempt, her majesty's opposition with contempt and this house of commons with contempt. it's about time he changed his ways. he said that — three times in the last decade — private companies had failed on the east coast main line. franchising remains at the heart of the alleged partnership. no amount of tinkering can solve the failings of a broken privatised system where the public takes the risk and the train companies take the profit, aided and abetted by the transport secretary. the snp wondered who would be involved in any new partnership. will stage coach be allowed to bid for that? because that really would be a rubbing salt into the wounds of this

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east coast mainline through the re—creation of creation of one of britain's iconic real brands, the lnerfrom london to peterborough, the east midlands, york, edinburgh and beyond. it is being run as a joint venture between virgin and stagecoach. they paid a lot of money to run the service until 2023 but the government says the company has got their numbers wrong and has lost nearly £200 million. the third time injust wrong and has lost nearly £200 million. the third time in just over a decade it has been forced to call halt to the franchise. gner was stripped of the route in 2007 and national express withdrew in 2009. that announcement today is yet another monumental misjudgement to add to a growing list of miscalculations by this secretary of state. stagecoach said it was surprised and disappointed after failing to negotiate a new deal. the website for its successor, london and north eastern railway, is up and running, and aims to assure passengers its journeys —— running, and aims to assure passengers itsjourneys —— their journeys will not be affected. i think it's a good idea. i think

through the re—creation of one of britain's iconic rail brands, the london north eastern railway, the lnereast coast line operates on routes totalling 936 miles from london to peterborough to edinburgh line which has been run by a joint—venture between stagecoach and virgin. they bid a lot of money to run the service until 2023. but the government says the companies got their numbers wrong and have lost almost £200 million. it's the third time in just over a decade that it has been forced to call a halt to the east coast franchise. gner were stripped of the route in 2007 after its parent company suffered financial difficulties. national express withdrew in 2009. the announcement today is yet another monumental misjudgement to add to a growing list of miscalculations by this secretary of state. stagecoach said it was surprised and disappointed after failing to negotiate a new deal. the website for its successor, london and north eastern railway, is already up and running, it aims to reassure passengers that theirjourneys will not affected. i think it's a good idea. the people who are runnin