To my knowledge the old British Rail was not annually making money.
We currently have record investment going into the railways, but Mr Corbyn appears to believe that under State ownership, the UK with £1.6 trillion of National debt and an unfunded pension liability of around £1 trillion on top, can put onto the State/taxpayer the risks/costs of acquiring rail lines, funding all investment and running them - when the State has a piss poor record of this.
I can understand why Corbyn and the public sector trade unions might want to do this, as its jobs for the boys and (unlike factories that closed in the 1970's) every time you 'sit around a table' you always get what you want whether the company is making a honking great loss or not - but how is it in the interests of the taxpayer with such an open liability, when the UK has such a huge national debt and still spending more than we earn?
Corbyn says it is a popular policy, but when will we hear how ££££ financially viable it is???