North West Labour Euro MP and Chair of the European Parliament's Transport Committee Brian Simpson has criticised plans to sell off Britain's only high speed rail line to a consortium which includes the Ontario Teachers' Pension Scheme. High Speed One, between London and the Channel Tunnel, was taken over by the Labour government as a public asset in the late 1990s when it got into financial difficulties. Now the Tory/Lib Dem coalition has sold it off for a knock down price of £2.1 billion.

"This is presently our only high speed line and the new government seems to think that the Ontario Teachers' Pension fund are a great bet to run it", said Mr Simpson.

The new consortium will get a 30 year operating licence and be responsible for stations such as Ebsfleet, Stratford and St Pancras.

"Railway infrastructure of this importance should remain in the ownership of the British people and not be sold off at a cheap rate to bring down the deficit. It is probably a good indication that any future High Speed routes to the north will probably suffer the same fate, should this disastrous coalition still be in power", Mr Simpson added.