Renationalisation
What happens now is still uncertain, but if the investors decide to walk away from the company it will face a crisis, as its current financial reserves will only enable it to continue functioning until May next year. The idea of renationalisation – for the government to step in and take ownership of the company to ensure a continued service, is being increasingly raised as a possibility by the capitalist press. The Tories are ideologically opposed to this; it would be a tacit admission that the claim Thatcher’s neoliberal privatisations would encourage more investment is false. Pressure would grow to nationalise other polluting water companies, the crumbling railways, the postal service or the profiteering energy companies as well.
Private equity was never, and is now even less aligned with the interests of the public.
PPI working as intended
Despite the other letdowns, it seems Labour still plan to nationalise(ish) rail and halt the privatisation of primary and secondary schools (via academies). So at least there’s that.
Its a step forward but labour is held to capitalist dogma which prevents real change and fast deployment. In a socialist society rail would unequivocally be nationalised with a much faster speed as well as schools no need for academies.
They are. It’s disappointing how much they’ve caved in to Big Money.
Because they’re a bunch of semi gelatinous talentless middle managers who can’t take a shit without consulting a focus group to get feedback on the optics.
