The benefits of privatisation

[bluethrunthru]

Obviously he sold it when gold prices were low. Very low indeed.
As Chancellor of the Exchequer and the man in charge of the nation's finances it was his job to get the timing right or at the very least a tad better than he did.
He sold it when prices were rock bottom. Even I know gold and other such commodities are cyclic and I'm just a
RWNJ, Brexiteer, white, thick, northern oldie! :-)

At the time it was a decision taken to diversify the nations reserves out of gold into currency because of the very volatility of the gold market. I suppose those people who can predict those cycles are multi billionaires and not politicians. Biggest mistake was pre-announcing as that knocked depressed gold prices even lower.

 

[Bert Trautmanns Helemet]

The police is now also partially privatised ....

So what? Just take back to being run by the state for the state.
If we can re-nationalise the railways & the utility companies we can also do it with the police.
Same with the NHS - and let's not forget who started to privatise the NHS?

 

[Bert Trautmanns Helemet]

At the time it was a decision taken to diversify the nations reserves out of gold into currency because of the very volatility of the gold market. I suppose those people who can predict those cycles are multi billionaires and not politicians. Biggest mistake was pre-announcing as that knocked depressed gold prices even lower.

blue...
Just keep on defending indefensible. You are good at it ;-)
Why not just admit he fucked up royally and cost the country millions
because he didn't know what he was doing?
Shit happens.

 

[bluethrunthru]

blue...
Just keep on defending indefensible. You are good at it ;-)
Why not just admit he fucked up royally and cost the country millions
because he didn't know what he was doing?
Shit happens.

never said it wasn't wrong just giving some back ground to what happened.

 

[Vic]

Obviously he sold it when gold prices were low. Very low indeed.
As Chancellor of the Exchequer and the man in charge of the nation's finances it was his job to get the timing right or at the very least a tad better than he did.
He sold it when prices were rock bottom. Even I know gold and other such commodities are cyclic and I'm just a
RWNJ, Brexiteer, white, thick, northern oldie! :-)

Cyclical? The price had been going down for years. It might not have been the best time or the best way to sell but why didn't the Tories/LibDems sell some gold in 2011 when the market was at its height?

Brown wasn't using the money to keep taxes low like the privatisation dosh.

 

[Vic]

So the railways....

Local authority audit privatisation also a mistake...

Audit Commission abolished and audit farmed out to private firms - but KPMG have pulled out and EY and Grant Thornton have 70% of the business (and only 6 other firms are authorised to do the rest). Now the government wants to set up the Auditing, Reporting and Governance Authority (ARGA)...

(The accountancy version of Great British Railways?)

 

[Vic]

And the privatised monopolies?

Margaret Thatcher’s government wiped out the water industry’s debts prior to privatisation and since 1989 the industry has loaded it back up again with £48bn at a cost in annual interest of £1.3bn.
Research by David Hall and Karol Yearwood of Greenwich University found that the debt was not used to fix leaky pipes or treatment works but went straight into shareholders’ pockets. Adding up the shareholder dividends paid since 1989, they reached a total of £57bn.
In that time, customers’ water bills have increased by 40% above the rate of inflation. It is the water users who have paid for upgrades to the network, such as they are, while shareholders walk off with cash paid for by higher debt.

England’s water system: the last of the privatised monopolies – for now

Analysis: taking control of the utility would benefit consumers and, more importantly, the environment

www.google.com

 

[JOGAMIGMOG]

And the privatised monopolies?

Margaret Thatcher’s government wiped out the water industry’s debts prior to privatisation and since 1989 the industry has loaded it back up again with £48bn at a cost in annual interest of £1.3bn.
Research by David Hall and Karol Yearwood of Greenwich University found that the debt was not used to fix leaky pipes or treatment works but went straight into shareholders’ pockets. Adding up the shareholder dividends paid since 1989, they reached a total of £57bn.
In that time, customers’ water bills have increased by 40% above the rate of inflation. It is the water users who have paid for upgrades to the network, such as they are, while shareholders walk off with cash paid for by higher debt.

England’s water system: the last of the privatised monopolies – for now

Analysis: taking control of the utility would benefit consumers and, more importantly, the environment

www.google.com

Water off a duck’s back to the Tory faithful and sadly white van man and thick Northern fuckers

 

[urban genie]

There are none

 

[Mad Eyed Screamer]

As a clue to where it is likely to go think of the old directory enquiries. When that was sold off if you recall there was outrage that a formerly free service was going to cost something between 50p to £1. Today the regulator said they wanted to cap a 90 second call to a 118 line to £3.10 for a 90min call. The market leader 118 118 ( which I believe was the old directory enq's ) charge £11.23 ( yes ELEVEN POUNDS AND TWENTY THREE PENCE ) for a 90 second call !

Does anyone still call 118 118?
I'd have thought they would be as redundant as a phone box