privatisation Flashcards
what is privatisation?
the selling of nationals (gov owned) concerns fully or in part to private buyers or investors
what was privatisation driven by?
an anti-socialist ideology
what was complemented by the policy of privatisation?
Deregulation
what did privatisation provide the state?
provided the state with large additional funds + the policy aimed at increasing ‘popular capitalism’
how did the policy aim at increasing ‘popular capitalism’
by giving much greater number of ordinary people the chance to become shareholders
what was the number of shareholders in Britain in 1979?
3 million
number of shareholders in Britain 1990
9 million
Between 1979-1990 number of shareholders britain rose from
3 million to 9 million
how many enterprises were sold during Thatchers years
50
Out of 50 enterprises sold of during Thatcher years largest were:
- British Airways
-British Steel
-British Telecom
Cables and Wires
for British airways what evidence is there for the success of privatisation?
British Airways, after only 6 months 35% of the original shareholders had sold out
in July 1984 what was sold to a Bermuda-registered shipping line
sealink(the cross-channel ferry company)
four months later (nov 1984) how much of British Telecom was sold?
51% of British Telecom was sold with the promise that rest would soon be on the market
what would be on sale during early 1985?
trustee savings bank
what was was a crucial element in the liberation of the economy ?
the privatisation programme
