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.
Report after report has shown privatised services to be more expensive and inefficient than their publicly owned counterparts. It's scarcely surprising that a large majority of the public, who have never supported a single privatisation, neither trust the privateers nor want them running their services.
But regardless of the evidence, the caravan goes on. David Cameron's government is now driving privatisation into the heart of education and health, outsourcing the probation service and selling off a chunk of Royal Mail at more than £1bn below its market price, with the government's own City advisers cashing in their chips in short order.
No amount of disastrous failures or fraudulent wrongdoing, it seems, debars companies such as G4S, Atos and Serco from lucrative new contracts in what is already an £80bn business – and one with an increasingly powerful grip on Westminster and Whitehall.
Complete story at - The tide is turning against the scam that is privatisation | Seumas Milne | Comment is free | The Guardian
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.
Report after report has shown privatised services to be more expensive and inefficient than their publicly owned counterparts. It's scarcely surprising that a large majority of the public, who have never supported a single privatisation, neither trust the privateers nor want them running their services.
But regardless of the evidence, the caravan goes on. David Cameron's government is now driving privatisation into the heart of education and health, outsourcing the probation service and selling off a chunk of Royal Mail at more than £1bn below its market price, with the government's own City advisers cashing in their chips in short order.
No amount of disastrous failures or fraudulent wrongdoing, it seems, debars companies such as G4S, Atos and Serco from lucrative new contracts in what is already an £80bn business – and one with an increasingly powerful grip on Westminster and Whitehall.
Complete story at - The tide is turning against the scam that is privatisation | Seumas Milne | Comment is free | The Guardian
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