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Privatisation of UK industries is driving cost of living crisis, says Greens’ leader Privatisation of UK industries is driving cost of living crisis, says Greens leader
(32 minutes later)
Zack Polanski calls mass privatisation a ‘failed experiment’ as report finds it has cost UK households £250 a year moreZack Polanski calls mass privatisation a ‘failed experiment’ as report finds it has cost UK households £250 a year more
The privatisation of the UK’s key industries is driving the cost of living crisis, damaging critical public services and making life harder for millions of people, the leader of the Green party, Zack Polanski, has said.The privatisation of the UK’s key industries is driving the cost of living crisis, damaging critical public services and making life harder for millions of people, the leader of the Green party, Zack Polanski, has said.
Speaking after the Guardian revealed the British public have been paying a “privatisation premium” of £250 per household per year since 2010, he described the mass privatisation of UK industry as a “failed experiment”.Speaking after the Guardian revealed the British public have been paying a “privatisation premium” of £250 per household per year since 2010, he described the mass privatisation of UK industry as a “failed experiment”.
“This report shows that privatisation has been one of the key drivers of the cost-of-living crisis and growing inequality … the Conservatives were the architects of this failed experiment, but the Labour government has done virtually nothing to change course.”“This report shows that privatisation has been one of the key drivers of the cost-of-living crisis and growing inequality … the Conservatives were the architects of this failed experiment, but the Labour government has done virtually nothing to change course.”
In his successful campaign to become Labour leader in 2020, Keir Starmer vowed to support “common ownership of rail, mail, energy and water” but has backtracked since coming into power, ruling out nationalisation of the big six energy companies, water or mail.In his successful campaign to become Labour leader in 2020, Keir Starmer vowed to support “common ownership of rail, mail, energy and water” but has backtracked since coming into power, ruling out nationalisation of the big six energy companies, water or mail.
Labour has made some moves towards nationalisation, bringing some train operators back into public ownership, establishing the publicly owned GB Energy and completing the re-nationalisation of the national energy system operator.Labour has made some moves towards nationalisation, bringing some train operators back into public ownership, establishing the publicly owned GB Energy and completing the re-nationalisation of the national energy system operator.
But critics say this week’s report – which found £200bn had been paid to shareholders since the privatisation of key industries in the 1980s and 90s – shows they must go further and faster to address poor services and rising bills and to tackle the climate emergency.But critics say this week’s report – which found £200bn had been paid to shareholders since the privatisation of key industries in the 1980s and 90s – shows they must go further and faster to address poor services and rising bills and to tackle the climate emergency.
The TUC’s general secretary, Paul Nowak, said: “We can’t ask families to keep on footing the bill for decades of failed privatisation. From soaring water bills to crumbling rail services, the system is broken – and it is ordinary people paying the price.”The TUC’s general secretary, Paul Nowak, said: “We can’t ask families to keep on footing the bill for decades of failed privatisation. From soaring water bills to crumbling rail services, the system is broken – and it is ordinary people paying the price.”
Nowak said the Labour government had made “a strong start by taking the first steps to bring our railways back into public hands and creating GB Energy. But it must go further and faster.”Nowak said the Labour government had made “a strong start by taking the first steps to bring our railways back into public hands and creating GB Energy. But it must go further and faster.”
He added: “That means delivering on its commitment for the biggest wave of insourcing in a generation and re-nationalising failing water companies like Thames Water – a textbook case of corporate mismanagement where profits have been prioritised over people and infrastructure.He added: “That means delivering on its commitment for the biggest wave of insourcing in a generation and re-nationalising failing water companies like Thames Water – a textbook case of corporate mismanagement where profits have been prioritised over people and infrastructure.
“The government should continue delivering on its ambition to bring essential services back where they belong.”“The government should continue delivering on its ambition to bring essential services back where they belong.”
The study by the thinktank Common Wealth found the selloff of these key industries has “led to a historic transfer of wealth” with at least £193bn having been paid out to shareholders, private equity funds and foreign holding companies since 1991.The study by the thinktank Common Wealth found the selloff of these key industries has “led to a historic transfer of wealth” with at least £193bn having been paid out to shareholders, private equity funds and foreign holding companies since 1991.
Jonathan Bean, from the campaign group Fuel Poverty Action, said it was shocking that the government was “pandering to private profit rather than delivering on their manifesto promise to bring down bills by £300”.Jonathan Bean, from the campaign group Fuel Poverty Action, said it was shocking that the government was “pandering to private profit rather than delivering on their manifesto promise to bring down bills by £300”.
“Right now, the government could be legislating to clamp down on excess profits and deliver the savings they promised. As winter approaches, there is no time to lose.”“Right now, the government could be legislating to clamp down on excess profits and deliver the savings they promised. As winter approaches, there is no time to lose.”
Polanski said that under Labour, not only were water and energy being left in the hands of private monopolies, but that also the government was “breaking up our health service and opening it up to private profiteers”.Polanski said that under Labour, not only were water and energy being left in the hands of private monopolies, but that also the government was “breaking up our health service and opening it up to private profiteers”.
“The Green party was the only party unequivocally opposed to privatisation of public services and pro public ownership,” he said.“The Green party was the only party unequivocally opposed to privatisation of public services and pro public ownership,” he said.
“We say water, energy and transport must be in public hands, and hands off our health service. This is the way to create a fairer, greener future for all and bring down bills.”“We say water, energy and transport must be in public hands, and hands off our health service. This is the way to create a fairer, greener future for all and bring down bills.”
No 10 declined to comment.No 10 declined to comment.