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T15 - before Richard Bowker became Chief Exec of NEG he ran a series of articles in Rail about the financing of the notwork and one of the articles was about rolling stock and ROSCOS. If memory serves it was along the lines that the were incentivised to buy new and that due to a long life, residual value and so forth they required a large capital element to cover costs of refurbishment. Ergo high lease charges. <br /> <br />I shall have to dig the copy out.
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