Privatisation isnt working. We were promised a shareholding democracy, competition, falling costs and better services. A generation on, most peoples 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 – theyre just owned by another state.....
Posted on: Fri, 11 Jul 2014 13:54:27 +0000
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