So why isn't in-cab signalling installed on the WCML and the EMUs running on it?
That was the original Railtrack plan, but they also planned to use radio-based technology that didn't exist.
That (and other aspects of the WCML upgrade) was one of the main reasons which led to the collapse of Railtrack in 2000.
Meanwhile Germany and Austria have had in-cab signalling (LZB) for speeds over 160km/h (100mph) since the 1980s.
There's also another feature which is mandatory for high speed - Automatic Train Protection (ATP).
The in-cab systems (including LZB) give you ATP.
In the 1990s we experimented with ATP systems on lines out of Paddington and Marylebone, but did not adopt a national system.
Instead, we rolled out TPWS which provides much of the protection of ATP, but is not a full in-cab system.
ETCS integrates all these feature in a standard system, being adopted throughout Europe (and elsewhere, eg China).