Let's not forget how inter-linked demand and fares are. I used to be a regular commuter, and am now an occasional one. I have quite a bit of discretion as to how often I commute, and cost is a big factor. If fares were lower, I'd go more often. I enjoy working with my colleagues in person, but that benefit, alone, doesn't justify the fare, as I can get my work done perfectly well at home. Since adding capacity (up to a point) is *relatively* cheap, compared with the (huge) fixed costs of the railway, stimulating more usage with lower fares should be the approach for under-used commuter lines to reduce subsidies, since opportunities for the alternative (cost savings) are very thin.
I hope we don't discard apparently 'excess' stock (eg 458s), as this opportunity to grow revenue will occur to someone soon enough (perhaps once GBR is fully born and thinking for itself), by which time that opportunity may be gone.
This feels a bit like the Beeching philosophy all over again - cuts which yield modest cost savings are regretted in the long term when the cost of re-instatement is orders of magnitude larger than the savings gained.
