Appointed by the Conservative Secretary of State for Transport, John MacGregor MP, Swift had little hope of being reappointed for a second five-year term by the new Labour party Secretary of State for the Environment, Transport and the Regions and Deputy Prime Minister John Prescott MP.
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In July 1999, John Prescott MP, Secretary of State for the Environment, Transport and the Regions and Deputy Prime Minister, appointed Winsor as Swift's successor as Rail Regulator and International Rail Regulator.
After Deputy Prime Minister John Prescott MP decided not to reappoint John Swift QC as Rail Regulator, Bolt was given a seven-month contract as Rail Regulator pending Prescott's decision on the full-term appointment of Tom Winsor from 5 July 1999.