Watchdog to launch Railtrack probe
The collapse of Railtrack will almost certainly be investigated by independent financial watchdog National Audit Office next year, according to reports.
Officials at the NAO have always maintained it was closely monitoring events surrounding the administration of the rail infrastructure company, but now insiders say it is ‘inconceivable’ that an investigation would not be launched.
The news will be a blow to transport secretary Stephen Byers, who has been under constant fire since calling in administrators Ernst & Young in September.
Byres has already faced a cross-examination from the transport select committee but an NAO probe would represent a far more rigorous investigation.