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Privatisation Policy Privatisation is the return by sale, of state enterprises to private ownership and control It was the intention in the UK that subsequent regulation of privatised companies would be as light and unobtrusive as possible. For this reason, the changes were sometimes called deregulation. In industries without big scale economies this was indeed possible. In industries such as electricity, gas water,telecommunications- more extensive regulation, with regard to structure not just conduct, is required whenever international competition is not vigourous Privatisation was a response to the view that some state companies were not natural monopolies, and that even natural monopolies were better handled by arms length regulation that committed the government not to intervene perpetually Transfer of ownership makes credible the fact that the firm does not have limitless government backing( although governments do bail out even private companies from time to time) for example it bailed out the rail companies...

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