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Labour’s confused plans for nationalising industry

Regulatory reform, not state ownership, is the key to improved delivery of public services

By Guy de Jonquières  

Shadow Chancellor John McDonnell. Do Labour's plans stack up? Photo: Matt Crossick/Matt Crossick/Empics Entertainment

Privatisation, Margaret Thatcher’s flagship domestic policy, is under attack, amid mounting public complaints about energy prices and rail fares, late and cancelled trains and alleged exploitation by rapacious and environmentally irresponsible water companies.

Spotting a potential vote-winner, the Labour Party has hit on an answer: re-nationalisation of swathes of British industry, starting with utilities and the Royal Mail. Despite the cost to the taxpayer, estimated by the Confederation of British Industry as…

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