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More renationalisation

January 23rd, 2003

The Telegraph reports a public ownership plan for failing British Energy, the nuclear electricity generator privatised by Thatcher.

As yet renationalisation is primarily a device for picking up the pieces when privatisation has manifestly failed, but we can expect more aggressive action now that the taboo has been broken. And already the notion of privatisation as the inevitable wave of the future (taken as gospel only five years ago) is as dated as dialectical materialism.

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