Rail is very heavily subsidised & it has been increasing rapidly over recent years. #HS1 has found maintenance costs are much higher than anticipated. #HS2 assumed its costs would be the same despite carrying 10x as many high speed trains travelling faster!!! https://twitter.com/mcahs2/status/1249370265856999424

Good article in March @Modern_Railways by @Captain_Deltic setting out huge rail subsidy issue & failing franchises. However, it appears the colours in Fig 2 were swapped as it states that the railway is largely funded through the farebox. In that case revenue is flattening off.