public ownership

It has not ruled out full public ownership, but is also looking for potential private investors to fund steelmaking operations, which has increasingly been raised as a national security issue.

Instead of paying it off in one lump sum, the Welsh government will pay more than £40m a year for 30 years in return for an 11-mile stretch of road that will be maintained by a private firm until it is brought back into public ownership in 2055.

Two more rail firms, C2C and Greater Anglia, will be brought into public ownership later this year.

SWR will come under public ownership on Sunday at 01:59 BST precisely.

It was a slick and impressive affair and Labour MPs like Portsmouth's Amanda Martin are looking forward to public ownership.