Burnham ally to unveil ambitious plan to reverse decades of privatisation
5 hours ago
- #cost of living crisis
- #privatisation reversal
- #state intervention
- Andy Burnham's government proposes reversing 40 years of privatisation by taking over failing utilities and setting up state competitors through a long-term plan, including issuing 'bonds for shares'.
- The policy paper 'The Productive State' advocates for greater state intervention to protect the public from soaring costs, arguing that privatisation has led to a 'privatisation premium' and economic struggles.
- Burnham's allies discuss a 10-year project to bring large parts of the UK's water and energy sectors under public control, starting with Thames Water, without blanket nationalisation.
- The essay emphasizes rebuilding public provision as fiscal prudence, suggesting methods like special administration regimes for distressed companies and bond-for-share exchanges for healthy ones.
- Labour figures praise the essay as a contribution to addressing the cost of living crisis, calling for bolder measures to make essentials affordable and ensure sustainable growth.