Privitsation

... Privatisation in the UK It is the belief of some economists that free market is a superior method of allocating economic resources and that large scale involvement by Government in business activities would hinder economic progress. The UK Conservative Government under Mrs Margaret Thatcher therefore felt that the central control of many industries was no real benefit to the economy, it was therefore decided that it would be better to privatise the public sector as far as possible. Privatisation is the sale of nationalised industries to the private sector of the economy. This was a major element in the economic strategies of the Government. Other elements of the strategies included giving the right to buy to tenants of houses and flats owned by the local authorities, inviting tenders for the performance of a wide range of services which were within the public sector and contracting over these services to private firms. Privatisation

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