Latest Issue

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 at…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect