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For the first four quarters following the 2008 debacle, the UK economy was in credit, with government spending being less than its income. By 2010 things had turned down financially and borrowing was necessary to close the gap between revenue and spending, so that when we received a new government that believed in reducing public debt to zero, we became committed to "austerity". (That, of course, meant "austerity" in terms of government spending on those public services that did not impact directly on Parliament or parliamentarians, who voted themselves increases in salary and expenses).

In order to help pay back the borrowing as quickly as possible, the government chose to raise money by selling off publicly-owned assets, especially those assets that had largely been public service monopolies - public utilities such as Royal Mail and the supply of energy and water. Since then, in private hands the consequence for the users of those utilities has largely been a reduction in quality of service and higher costs.

This is in conflict with the claimed improvements that would be derived from using the higher efficiency and innovation that the politicians professed to be the advantages of private industry. In practice, any savings achieved have been transferred to private shareholders, who have been largely based outside the UK, rather than passed to the public purse. Losses, on the other hand, have been passed back to the UK taxpayer whenever the venture has not proven beneficial to the shareholders and the company has either folded or been bailed out, as happened with Carillion and the East Coast railway line.

So is it time to reconsider whether or not the mantra of "private good, public bad" should be discarded and a new start be made? The politicians were only able to take such major sell-offs because for the previous 3 or 4 decades they had been following a policy of centralisation of power in Westminster, removing control of affairs from local authorities. Should we now be reconsidering returning control to local level in the interests of democracy and the economy.

Brexit was posited as essential to return decision-making from Brussels to the UK. If local decision-making is so desirable, why would it stop at Westminster and not be passed on to local level?

And if austerity was so essential and beneficial, now that it is over (according to Theresa May's recent pronouncements), how have you and yours benefited?

Have a look at this and see if you recognise any of the elements involved.
 

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100%. Ron.I Never understand Why the British Working classes (defined as people who have to get up in the morning and "Go To Work") people who Do Not have second incomes , nor large investment accounts,Why They are happy to subsidise huge private companies and banks, where directors earn millions in "bonus" schemes, where millions are skimmed off, to misteriously dissapear in in clouds of "LAUNDERING! BUT THEY ARE prepared to put up with exorbitant travel expences ,packed into buses and trains like sardines, where the N:H:S: is being sold off ! and under the Tories, will finally "MORPH" into an American style private insurance system .But when asked about re nationlisation They often seem to squirm and show distinct nervousness........ WHY IS THAT???There is so much more , but I loathe the Bl**dy Tories so thats enough for now!:
 

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Because they've been well trained by their masters the British establishment or is that too simple an answer?
 

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Privatisation got me early retirement on full pension at the age of 51. In the CEGB they were offering up to 10 years on your pension service and a good severance lump sum. You needed 40 years of service to get full pension and I had 33yrs so got 7 added. I did have to wait till I was 55 to take my pension though.
A mate of mine, 10 yrs younger than me, was just taking voluntary severance and negotiated £25K in addition to the standard severance pay, by turning down 10, 15 and 20K, all negotiated in one day, they were so keen to get rid of anyone. Married to a Chinese girl, he opened his own restaurant with the proceeds.
We were all told that there would be no redundancies and jobs would be found for anyone wanting to stay on.
Having said all that, I was definitely not in favour of privatisation of utilities and when the CEO of the new PowerGen came to meet us at Ince P.S. and said that "It was going to be exciting times", I said "For who? Only you lot I would bet". - to the dismay of the station manager.

JJ.
 

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Three redundancies and umpteen governments that sold our assets (and their authority/ability to govern for the community at large) to their capitalist mates.

Now big business runs the bloody country and the government fiddles as it has no power to do anything else.

(Cloud)(Cloud)
 
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