"There clearly is the need for some new regulatory authority on the table, " says Frank, adding that how this should be done remains to be resolved.

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Despite the disappointing punctuality figures, companies' overall performance improved enough to ensure that, for the first time, none featured in the bottom grade E in the authority's performance table.

BBC: Rail firms rapped over timekeeping

Often, the stakeholder with the green- or red-light authority is not at the bargaining table.

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