MPs yesterday slammed ministers for lumping all the risk for glitzy new trains on taxpayers.

The Intercity Express Project trains will be operated by privateers on Britain’s key main line routes — replacing ageing High Speed Trains and Intercity 225 stock.

But in an unprecedented move, the Department for Transport opted to “lead on procurement” of the new intercity trains alongside new stock for London’s Thameslink route. This means private rail conglomerates can wash their hands of the associated financial risks if things go wrong.

A report from the House of Commons public accounts committee said: “By buying the trains directly, the department has taken on the risk of passenger demand forecasts being wrong.

“If demand proves to be lower than forecast, taxpayers would have to cover the costs of any financial shortfall.”

And the committee condemned the DfT for relying on private consultants rather than in-house expertise.

The 866 intercity carriages are being built by Japanese electronics giant Hitatchi — while the German Siemens is supplying 1,140 new Thameslink carriages. The combined cost of the two contracts is around £10.5 billion.

Labour committee chair Margaret Hodge said: “The only way the department can limit this risk is by requiring train operating companies to use these new trains to run their services regardless of whether they best fit the services they would like to offer.”

Aslef general secretary Mick Whelan said the report showed a “failure to put any long-term strategy for the rail industry in place.”

RMT general secretary Mick Cash said: “The companies using these trains get to privatise the profits while the public get to shoulder over £10bn of risks.

“It is an absolute disgrace.”