Does the failure of the East Coat main line franchise highlight the folly of privatisation essential services?
That East Coast Main Line privatisation story in particular has been a total disaster for the shareholders, the consumers and to the taxpayers alike.. BUT….. Not all privatised companies have been disasters. I think there are some successes FEW and FAR BETWEEN granted. But, I work for a utility company (water) – hey I’ve got to work somewhere! The water system and sewage in the UK prior to privatisation was run on a shoestring budget, the whole system was dilapidated in 1989 and urgently needed ‘vast’ investment to get it up to scratch – just to pass health and hygiene tests alone. The network had been allowed to degenerate for years and years by swingeing council cutbacks up and down the country. Now, though the cost of water and waste water is high, but the levels of service are actually quite good arguably. Trouble is, is the blasted shareholders and fatcats. Companies MUST make a profit and they put profits before anything else and it annoys the cr@p out of me. Like I cannot have
