Thursday, 10 July 2014
The tide is turning against the scam that is privatisation
‘Privatisation isn’t working. We were promised a shareholding democracy, competition, falling costs and better services. A generation on, most people’s experience has been the opposite. From energy to water, rail to public services, the reality has been private monopolies, perverse subsidies, exorbitant prices, woeful under-investment, profiteering and corporate capture.
Private cartels run rings round the regulators. Consumers and politicians are bamboozled by commercial secrecy and contractual complexity. Workforces have their pay and conditions slashed. Control of essential services has not only passed to corporate giants based overseas, but those companies are themselves often state-owned – they’re just owned by another state.’
