 The Labour government (elected in 1997 after the majority of the privatisation process had been completed) did not completely reverse the railway privatisation of the previous administration.Initially it left the new structure largely in place, however its main innovation in the early years was the creation of the Strategic Rail Authority (SRA), initially in shadow form until the Transport Act 2000 received Royal Assent, as well as the appointment of Tom Winsor as Rail Regulator, who took a much harder line with the rail industry, and Railtrack in particular.In the wake of the Hatfield rail crash in 2000, Railtrack entered into financial meltdown and the industry was in deep crisis.