The breakup and privatization of British Rail (BR) was initiated by the Conservative government under Prime Minister John Major through the Railways Act 1993. The process, which took place between 1994 and 1997, dismantled the nationalized, state-owned operator and split it into over 100 separate companies. The infrastructure (tracks, signals, and stations) was sold to a private company called Railtrack, while the actual train services were divided into "franchises" and awarded to private operators like Virgin Trains, Stagecoach, and FirstGroup. Rolling stock (the actual trains) was sold to specialized leasing companies (ROSCOs). The move was highly controversial and intended to "increase efficiency and competition," though in 2026, the British rail system is currently undergoing a "renationalization" process under the "Great British Railways" (GBR) banner to bring the fractured system back under a single guiding mind. The original 1990s breakup remains a pivotal moment in UK economic history, often cited in 2026 as a cautionary tale regarding the complexities of privatizing essential national infrastructure and the resulting "fragmentation" of ticketing and service quality.