Oh dear, oh dear. Anyone who has had anything to do with the aviation industry will instantly recognise this for what it is. The exploitation of desperate wannabes appears to finally be coming to the rail industry.
This idea will be sold to rail companies as a way to offload their training costs initially, but with the long term benefit of eventually profiting from new entrants.
Wannabes will be fleeced at every step of the way - £1340 for psychometric testing anyone? They will be asked to pay for their own training. They will probably be offered special finance deals, secured on property. But they won't have a job at the end of it, and they will still need the handling experience, so they will then pay-to-work to gain hours. The train companies benefit because they no longer pay for assessment and training of new drivers and will eventually have people paying them to work for them. This can only drive down T&Cs.
In short, I hope this idea is given the thoroughly cold shoulder it deserves. I may be a cynic but if any encroachment as I describe begins it mustn't be allowed to spread - just look at the aviation industry to see how it ends up. Here's some light reading:
http://www.jetcareers.com/pay-for-trainingjob-programs.html
http://www.pprune.org/terms-endearment/493132-flexicrew-wages.html
"A typical CTC cadet, that hasn't gone bankrupt, has £1200-1400 loan repayments to make a month, maybe £300 a month for a room, £200 for food, £30 for a mobile, £150 for a car. As you can see, it's tighter than a ducks butt. And that's if it goes to plan."
The info about who is behind this company is in the public domain and easily found by the way - he's on LinkedIn.