Nationalisation: What does it mean?

[POSTMAN]

http://www.sunderlandecho.com/news/poli ... -1-8538595" onclick="window.open(this.href);return false;

The leaked draft of Labour's election manifesto includes commitments to nationalise or renationalise many British industries. But what does this mean?

What is nationalisation? Nationalisation is the transfer of a private business to state ownership or control. It is normally applied to the takeover of major branches of industry and companies rather than smaller businesses.

Which industries does Labour want to nationalise, according to the draft? The draft includes nationalisation plans for the energy industry, the railway and bus networks and Royal Mail.

Would this mean the government would just take over running all of those industries? Rail networks would be nationalised as each private franchise expires. Publicly owned bus companies would be set up. Royal Mail would return to public ownership and a state owned rival company to the existing Big Six private energy firms would be created.

What do nationalisation supporters say? Unite boss Len McCluskey said the manifesto policies in general were "really, really exciting" and described rail renationalisation as "the most popular policy out there".

What do its critics say? Josh Hardie, deputy director general of the CBI, said: "Proposals to damage the UK's flexible labour market and competitive markets will threaten jobs and prosperity."

Has nationalisation been done before? Yes, many industries were nationalised during the 20th century. They include railways, coal mining, the electricity, gas, iron and steel and civil aviation industries, telecommunications, the Bank of England and healthcare, which led to the formation of the NHS. All of this was done by the Attlee Labour government in the late 1940s.

Have any famous names been nationalised? Rolls-Royce was nationalised in 1971 by the Conservative Heath government after problems in its aviation engine arm left it in administration and on the brink of total collapse. Similarly the Northern Rock bank was nationalised in 2008 during the Financial Crisis. Travel firm Thomas Cook was in state hands between 1948 and 1972 because it was owned by a rail firm when that industry was nationalised after the Second World War.

Was all nationalisation post-war? No. According to the National Archives in 1916, during the First World War, five breweries and more than 300 pubs and bars in what is now northern Cumbria and south-west Scotland were nationalised as part of the Carlisle Experiment, so the government could control and reduce drinking by workers at armament factories in the area, as part of a nationwide drive to boost war production.

So what happened? Sell-offs have happened at various points but they sped up after Margaret Thatcher became prime minister in 1979 promising widespread deregulation after the industrial turmoil of the 1970s. Her government privatised British Telecom, British Aerospace, British Airways, British Gas and the British Steel Corporation among others. Her successor John Major broke up British Rail and, most recently, the government sold its last shares in Royal Mail in 2015, having floated it it in 2013.

[POSTMAN]

Return to the 70s - is Nationalisation a good idea?
Read more at http://www.stokesentinel.co.uk/big-issu ... msjzw4F.99" onclick="window.open(this.href);return false;

Renationalising utilities may be a vote winner but it's utterly impractical
Read more at http://www.managementtoday.co.uk/renati ... 7yWhfvf.99" onclick="window.open(this.href);return false;

[deltaforce]

It's fair to say royal mail were milked dry for many years whilst under state control. Investment in mechanization was always starved leading to high dependency on manual operations. Let's be frank. If we are taken back into state control, we are going to be an expensive monolith no one is going to want to use.

[milly]

Whilst many here don't agree with Capitalism,I'm afraid its the best system we've got.
Jeremy Corbyn used wax lyrical about Hugo Chavez's Socialist paradise of Venezuela and how wealth can be shared amongst the poor.
He seems to have gone quiet about Venezuela now that law and order is breaking down and some of its citizens were so hungry they butchered and ate animals from Caracas Zoo.
Venezuela has the largest known Oil reserves in the world and yet it has been plunged into abject poverty by the Socialists.
Corbyn is probably a just well intentioned fool.

[Tman]

He also apparently waxed lyrical about Castro.
However well-intentioned, he's a feckin idiot through and through.

[jetblack]

Whilst many here don't agree with Capitalism,I'm afraid its the best system we've got.
Jeremy Corbyn used wax lyrical about Hugo Chavez's Socialist paradise of Venezuela and how wealth can be shared amongst the poor.
He seems to have gone quiet about Venezuela now that law and order is breaking down and some of its citizens were so hungry they butchered and ate animals from Caracas Zoo.
Venezuela has the largest known Oil reserves in the world and yet it has been plunged into abject poverty by the Socialists.
Corbyn is probably a just well intentioned fool.

Do some research on 1) oil prices and 2) the CIA's involvement in South America/Venezeula (they really don't like the fact that they can't get their oil at the same price as Cuba - kind of sticks in the throat for a country that guzzles the stuff like its going out of fashion).

Then come back here and talk to us about the merits of capitalism. But not before.

Oh - and BTW - try not to use the Sun and Laura Kuenseburg as your sources if you can. Not to be trusted you see.

[Tman]

Yep same old same old.
You're just reading the wrong message, just as with Corbyn.

All down to the Right Wing media.

[milly]

Whilst many here don't agree with Capitalism,I'm afraid its the best system we've got.
Jeremy Corbyn used wax lyrical about Hugo Chavez's Socialist paradise of Venezuela and how wealth can be shared amongst the poor.
He seems to have gone quiet about Venezuela now that law and order is breaking down and some of its citizens were so hungry they butchered and ate animals from Caracas Zoo.
Venezuela has the largest known Oil reserves in the world and yet it has been plunged into abject poverty by the Socialists.
Corbyn is probably a just well intentioned fool.

Do some research on 1) oil prices and 2) the CIA's involvement in South America/Venezeula (they really don't like the fact that they can't get their oil at the same price as Cuba - kind of sticks in the throat for a country that guzzles the stuff like its going out of fashion).

Then come back here and talk to us about the merits of capitalism. But not before.

Oh - and BTW - try not to use the Sun and Laura Kuenseburg as your sources if you can. Not to be trusted you see.

Oh sorry I forgot,everything that happens is a CIA/NWO/Zionist conspiracy.
I'm afraid that Socialism has never and will never work and always ends in human misery and death.
It is a fact that Venezuela should be a wealthy country whatever the oil price is but it is because of the state managed economy that the Venezuelans are suffering.
If you can provide me examples of Socialist success stories I will possibly change my views.

[jetblack]

If you can provide me examples of Socialist success stories I will possibly change my views.

Do your own research Milly - I'm not my brothers keeper.

Sufficed to say, what with this being RoyalMailChat, that our very own industry ran very well indeed for 500 years in state hands. You don't have to look too far Milly.
Now they've let the finance capitalists in at a knock down price I'm looking at a retirement several thousands pounds a year worse off - even when the company is half a billion in profit. Oh, and being sick without pay. Very progressive. Very 21st century.


Hey, I suppose thats the market introducing the much vaunted "efficiencies". Clever stuff

Oh sorry I forgot,everything that happens is a CIA/NWO/Zionist conspiracy.

You're naive Milly. And I said nothing about NWO/Zionism or conspiracys.

One thing is for sure - successive US administrations/the CIA certainly don't have much time for nationalisation - especially when it involves the nationalisation of a countys oil resources (Iraq, Libya, Venezeula - Nigeria ?).

I can't imagine why that would be - any ideas Milly ?

[milly]

If you can provide me examples of Socialist success stories I will possibly change my views.

Do your own research Milly - I'm not my brothers keeper.

Sufficed to say, what with this being RoyalMailChat, that our very own industry ran very well indeed for 500 years in state hands. You don't have to look too far Milly.
Now they've let the finance capitalists in at a knock down price I'm looking at a retirement several thousands pounds a year worse off - even when the company is half a billion in profit. Oh, and being sick without pay. Very progressive. Very 21st century.


Hey, I suppose thats the market introducing the much vaunted "efficiencies". Clever stuff

Oh sorry I forgot,everything that happens is a CIA/NWO/Zionist conspiracy.

You're naive Milly. And I said nothing about NWO/Zionism or conspiracys.

One thing is for sure - successive US administrations/the CIA certainly don't have much time for nationalisation - especially when it involves the nationalisation of a countys oil resources (Iraq, Libya, Venezeula - Nigeria ?).

I can't imagine why that would be - any ideas Milly ?

I have done a little research and I find Socialism wanting.
Also seeds of the destruction of our Pension were sown when the state owned Royal Mail.
You seem to suffer from cognitive dissonance,you don't seem to like capitalism but you have talked in other posts about doing well from investments.
You obviously don't mind benefitting from other companies who make cuts to other workers pay and conditions to increase profits,dividends and ultimately the share price.

[jetblack]

Also seeds of the destruction of our Pension were sown when the state owned Royal Mail.

Nope - they were sown in 2008 when there was a systemic collapse of debt based financial markets. Capitalism, in other words.

You seem to suffer from cognitive dissonance

[milly]

Also seeds of the destruction of our Pension were sown when the state owned Royal Mail.

Nope - they were sown in 2008 when there was a systemic collapse of debt based financial markets. Capitalism, in other words.

You seem to suffer from cognitive dissonance

I'm sorry but the Pension started to fail under the stewardship of the state way before 2008.
The stockmarket has largely recovered since 2008, Capitalism in other words!

[jetblack]

Dunno Milly - P/E ratios are at 33 for the FTSE 100, whereas the average (historically) is less than half that. You don't think the half a trillion pounds pumped into the economy by the BofE has anything to do with it do you Milly ?

All that glitters is very often not gold old son.

BTW - do you know how we (you and I that is, ordinary workers) pay for that half a trillion free money ? We pay for it in 0% interest rates. The interest rate represents the price of money - and you can't very well set it high when you are printing the stuff like there is no tommorrow can you ?
All this is well and good until you are trying to provide a pension whereby you are heavily invested in low yielding bonds.

Am I making any sense to you here Milly ? Or is the old "cognitive dissonance" playing up again ?

[milly]

Dunno Milly - P/E ratios are at 33 for the FTSE 100, whereas the average (historically) is less than half that. You don't think the half a trillion pounds pumped into the economy by the BofE has anything to do with it do you Milly ?

All that glitters is very often not gold old son.

BTW - do you know how we (you and I that is, ordinary workers) pay for that half a trillion free money ? We pay for it in 0% interest rates. The interest rate represents the price of money - and you can't very well set it high when you are printing the stuff like there is no tommorrow can you ?
All this is well and good until you are trying to provide a pension whereby you are heavily invested in low yielding bonds.

Am I making any sense to you here Milly ? Or is the old "cognitive dissonance" playing up again ?

It seems strange that you yourself invest money in these markets when you are such a doom and gloom merchant.
You sound like a tinfoil hat wearing doomsday prepper.
I trust you have an adequate supply of water,tinned food,Gold,guns and ammo.

[jetblack]

It seems strange that you yourself invest money in these markets when you are such a doom and gloom merchant.
You sound like a tinfoil hat wearing doomsday prepper.
I trust you have an adequate supply of water,tinned food,Gold,guns and ammo.

I do try to save for the future Milly - I don't want to be a wage slave for all of the limited time I have on this Earth. But you are wrong about me investing in the stock market.
No - I find that by far the best way to save is to stick cash under the bed - it says so here ..



....doesn't it ??