First Team Star
Jul 24, 2019, 3:44 PM
Location: Sarf London
Team(s): Lowestoft Town, Crystal Palace
Thatcher sold the utilities on the cheap. Thousands of people made absolute fortunes out of the state owned sell off in the 80ís. They sold almost all the council house stock & left struggling people with the expensive private sector. Would buying it back on the cheap be theft? These utilities are making millions out of all of us.
They were sold off at market value at the time.
The beneficiaries were all of us in that our pensions benefitted from their rise in value as a result of the massive investment they subsequently received. Investment that the Treasury had starved them of for decades. Therein lies the problem with nationalisation.
I am not ideologically opposed to certain industries being returned to public ownership ( railways for example ) and being run as a public service.
However only at market value, otherwise it is theft and will have devastating effects throughout the whole economy as private investment will not be forthcoming.
The basic problem with Corbyns and McDonnells economic plans is that they bring short term benefits to the consumer but as has been shown where such experiments have been undertaken, long term decline of the industries in question.
Such economic thinking has never worked and McDonnells pledge to destroy capitalism will leave us all worse off.
Stronger and more efficient regulation of core utilities is the way forward IMO, not ideological fantasies.
(This post was edited by Ronsdog on Jul 24, 2019, 3:48 PM)