A new privatisation premium is burdening British households. A recent Guardian report reveals a significant cost. Consequently, each UK home pays about £250 more yearly. This privatisation premium has accumulated since 2010. Moreover, the Green party leader strongly criticises this system. Zack Polanski calls mass privatisation a “failed experiment.” He argues it directly fuels the cost-of-living crisis.
Furthermore, privatisation damages essential public services. It also makes life harder for millions. Polanski blames previous Conservative governments. However, he also criticises the current Labour administration. He says Labour has done virtually nothing to change course. Keir Starmer once vowed to support public ownership. He specifically mentioned rail, mail, energy, and water. But since gaining power, he has backtracked significantly.
The report from thinktank Common Wealth provides evidence. It found a historic transfer of wealth. Specifically, £200bn went to shareholders since the 1990s. This money came from key privatised industries. Therefore, consumers effectively pay a privatisation premium for utilities.
Additionally, the TUC’s general secretary agrees with the assessment. Paul Nowak says families cannot keep footing this bill. He cites soaring water bills and crumbling rail services. Nowak acknowledges Labour’s strong start. For example, they established publicly owned GB Energy. They also renationalised some train operators. But he urges the government to go further and faster.
Nowak specifically recommends re-nationalising failing water companies. Thames Water is a textbook case of corporate mismanagement. There, profits were prioritised over people and infrastructure. The government should continue its insourcing ambition. Essential services belong back in public hands.
Campaign groups also express deep concern. Jonathan Bean from Fuel Poverty Action finds the situation shocking. The government panders to private profit instead. It fails to deliver on its manifesto promise to lower bills. He warns that winter is approaching. Therefore, there is no time to lose.
Polanski reiterates the Green party’s clear position. They unequivocally oppose privatisation of public services. They are pro public ownership. Water, energy, and transport must be in public hands. The health service must also be protected from profiteers. This is the only way to create a fairer, greener future. Ultimately, it is the best path to bring down bills for everyone.
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