Economic Developments: Privatisation Flashcards
What was Privatisation?
Selling nationalised industries to the public
What was a benefit for the government of privatising many British Industries in terms of Trade Unions?
The Trade Unions in the public sector were very powerful
What would it mean for public sector Trade Unions if the public industries they were present in were privatised?
They would lose a lot of power
When was Cable and Wireless sold off for and for how much?
Sold in 1981 for £240 million
How much was the government making on average a year for privatising industries from 1983 onwards?
£1 billion a year
How much money was British Leyland losing a year when it was privatised?
£32 million
How much profit was British Leyland making a year when it was privatised?
£121 million in profit a year
What was a benefit of privatising industries in terms of public spending?
There would be less industries that the government would have to spend money on
When was British Telecom sold?
1984
How much was British Telecom sold for?
£5.4 billion
How many people became shareholders in British Telecom?
2 million
What was the significance for half of the shareholders in British Telecom?
This was their first time directly investing in shares of a company
How many shareholders were there in Britain in 1979 compared to 1990?
3 million shareholders in 1979, 9 million shareholders in 1990
What was continentally significant about the amount of shareholders in Britain by 1990?
More people in Britain were shareholders than in France or Germany by 1990
Wen did British Privatisation shares sales revenue for the government peak?
1989
