Reply To: Renationalising the UK rail network – a good idea?Back to Forum
Why is public better than private or vice versa – its pretty obvious the key is quality of management.
No reason a priori to think private management is better (just more expensive) – CEO’s in major companies have not been doing too well recently – Volkswagen & Murdock empire bosses claiming to be unaware of their underlings misdoing & CEO’s in Big Pharma not only mislead with their so-called research but also in presentation of accounts (see last Saturday FT).
In principle with major infrastructure I’d prefer national ownership as any profits would return to the taxpayer. In any case many PPI have taxpayer subsidy. The major problem (also existing with privatisation) will always be out of control unions demanding a feather bed (e.g. as in the London Tube) and I have no idea how that can be dealt with – maybe JC will have an answer?