Here’s why the CBI is wrong about Labour’s nationalisation plans
The CBI represents the vested interests that have been making a killing from privatisation for 40 years – and it’s scared.
The right wing media screams that we can’t possibly run our public services for people not profit, that it wouldn’t be efficient to stop wasting money on shareholders.
The truth is that there is no inherent difference in efficiency between public and private sector organisations.
BUT privatisation wastes £250 million a week on shareholder dividends and cost of borrowing.
The CBI desperately wants us to ignore this – so it is pulling out the argument that it would be too expensive to get there.
This simply isn’t true. Public ownership would pay for itself.