Labour has announced plans to renationalise the railways within five years if elected, aiming for the 'biggest overhaul to our railways in a generation’. According to shadow transport secretary Louise Haigh, the transition to public ownership would occur within the party's first term by incorporating expiring private passenger rail contracts into a new entity, avoiding compensation costs to taxpayers. This entity would be a public, expert-led version of the Great British Railways (GBR), differing from the Government’s plan which also involves establishing a new public sector body. Labour aims to deliver reliable, efficient, and quality services which would benefit the economy, taxpayers, passengers, and railway staff, while still allowing private sector roles.