The glad tidings brought by the minister were that the wait was almost over: the establishment of Great British Railways could be wrapped up by Christmas, at least in law. But with a renationalised industry facing fresh storms in 2027, some in the railway world are wondering if they should be careful what they wish for.

The legislation that will rip up how rail has been run, anticipated for the best part of a decade, is being chewed over in its final stages in the House of Lords. It now has, the rail minister, Peter Hendy, told an industry conference in London this week, “a fair chance of getting royal assent” before parliament’s winter break, allowing a new arm’s-length body with overall control of Britain’s railway, spanning the track and train services.