Get rid of Failing Grayling for starters
Probably to be replaced by someone equally incompetent.
Secretaries of State come and go with either government, you can never guarantee a benign one (whatever that means).
Recent ones have generally meant well, but the government in general is increasingly fed up with the performance of the rail sector after all the spend in the last decade.
We could change their powers over the railway though, which are currently pretty much total.
ORR is quasi-independent but seemingly ineffective, NR is still the elephant in the room, spending huge amounts for little return.
The SRA (invented by Labour) had an arm's length relationship with government but was hated by all sides and was dismantled (by Labour) after 5 years for not following the government's line. It also invented "no growth" franchises, from which we are still suffering.
The Tories want major private sector involvement, Labour want to centralise everything in a public monopolistic system. Take your pick.
Keith Williams has the unenviable task of coming up with a sustainable new structure, which maybe will resurrect something closer to the Big 4, combining TOC and NR roles in a smaller number of operating units than the current 20-ish.
But the government has to agree cede control to a responsible industry body to manage it all, and there is not much sign of that on either side of the political divide.
Fiddling with fares, franchise boundaries and rolling stock allocations is pointless until the bigger picture is sorted, and has to last through repeated government changes.
I'm afraid we are stuck with Grayling, or McDonald, or similar, for a while yet.