UK Plc in state hands: What companies would a Labour government nationalize?
Labour said the proposal would cost about 20 billion pounds. But the chief executive of BT said the plan could cost taxpayers as much as 100 billion pounds.Labour wants to nationalise the rail industry within five years of winning power. The party says this will allow fares to be capped, improve the reliability of services and mean free wi-fi across the network.
Britain’s railways are already partly nationalised with the infrastructure operator Network Rail, which controls stations as well as tracks, tunnels and level crossings, in the public sector. But the train operating companies are mainly privately run under limited term contracts. Under Labour’s plans the government would wait for the contracts to expire, and then scoop the operations back into public hands.Labour says it wants to return Royal Mail, one of the world’s oldest postal services, to state control six years after the company was privatised, saying this was a “historic mistake” and the company was sold off too cheaply.
The Conservative government’s handling of the sale of the 503-year-old company has come under renewed scrutiny after Britain’s spending watchdog concluded the government had set the price too low.
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