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Ignore claims about crippling levels of compensation: public ownership would pay for itself within seven years• David Hall is a visiting professor and former director of the Public Services International Research Unit at the University of Greenwich
The Labour party’s proposals to bring water, energy, post and broadband into public ownership have been received with some public enthusiasm – privatisation of these sectors has never been popular. But they have also been subjected to various criticisms, mainly focusing on the potential cost of compensating shareholders, including the possibilities for legal action by investors, and the supposed impact on UK pension funds. Most of these critics have remained silent about the benefits of public ownership.
Whether the savings are used to reduce prices or to increase public investment, it would remain in the local economy Continue reading...