Future Government rail plans were thrown completely off track today after ministers scrapped a deal which would have seen Richard Branson’s train company lose its West Coast franchise

Richard Branson threatened to walk away from the rail industry today after Virgin Rail today lost its West Coast main line franchise to rival transport company FirstGroup.

British bus and rail operator FirstGroup today hailed an “excellent” performance by its trains as it turned in a 9% rise in half-year profits to £62.1m (€89.9m).

The competition watchdog in England gave transport operator First Group the green light today to press ahead with its bid for Scotrail.