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From The Socialist newspaper, 1 June 2016

Public asset sales will lose us money

The Tories are selling off public assets at the expense of future income, photo TaxRebate.org.uk (Creative Commons)

The Tories are selling off public assets at the expense of future income, photo TaxRebate.org.uk (Creative Commons)   (Click to enlarge)

Rudi Abdallah

Profit-hungry chancellor George Osborne will damage public finances by privatising the Land Registry and other public assets. A new report has found ongoing income would outstrip the sale's windfall.

Think tank New Economics Foundation, acting for campaign group We Own It, reports that handing the Registry to the private sector will savage public finances in 25 years' time. It also warned that if other assets like National Air Traffic Services were sold, the impact would be felt within seven years.

Supporters of We Own It, who crowdfunded the report, are concerned the government is embarking on the most comprehensive privatisation programme since Margaret Thatcher was in Downing Street.

The group's director Cat Hobs said: "The Land Registry is a profitable, successful, innovative organisation doing a great job - why privatise it? We need to think about the wealth of the next generation, not just a 'quick fix' on the deficit."

Osborne's destructive campaign aims to sell off 20 billion worth of public assets by the end of this parliament. This includes shares in bailed-out banks.

The Tories, determined as ever to sell off every part of the country, breathe in numbers and think in graphs. Those graphs show only the bosses' profits. They will always put the needs of private enterprise before workers.

The Socialist Party opposes privatisation and austerity. We want key industries including the banks and all public services to come under democratic workers' ownership and control - to be run in the interests of all, not just a few super-rich shareholders.

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The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

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In The Socialist 1 June 2016:


Socialist Party news and analysis

Shatter the Tories: vote out

Motion passed for no-cuts council budgets

Jobseekers told: take three-hour commute

Public asset sales will lose us money

Stop Ryedale fracking

Blairite baloney

Khan air

Library lie

Them & Us


The BBC

Tories out to knife the BBC


France

France: struggle against government intensifies

France 1936: sit-in strikes

Fighting austerity: French strikes show the way


What we think

Tories tearing themselves apart over EU referendum: vote leave to get Cameron out


Socialist Party workplace news

PCS conference takes serious approach to key political and industrial questions

Could it be 3 strikes and you're out at 2 Sisters?

Welsh Government under attack at Wales TUC conference...and museum strikers close to victory

University lecturers strike for fair pay

Thomas Cook cabin crew to strike over breaks

BIS office closure: Anger and determination to fight on

Workplace news in brief


Socialist Party reports and campaigns

Property speculators target Butterfields tenants

Pent Valley campaigners take council to judicial review

George Tomlinson school: Academy fears

Birmingham Labour council takes credit for Tory privatisation

Peterborough PFI palaver

Get a copy of the Socialist from a workplace near you!


International socialist news and analysis

Solidarity with protesters in Kazakhstan

Portugal: Lisbon dockers' victory


Socialist Party comments and reviews

Film: Money Monster

Obituary: Simon Gomery 1968-2016

Letter: Parcel farce


 

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