Privatization revisited
The similarities between now and the early years of the Thatcher government can easily be overplayed. Yes, there are parallels: a public sector grown fat on government profligacy, unions leaders stirring up resentment, and a government unsure about quite how radical it wants to be. But there are clear differences too: the political dynamics, the industrial landscape, and, indeed, the magnitude of the fiscal crisis. Nevertheless, there is at least one successful Thatcher-era policy that is desperately due a comeback: privatisation. It won’t have escaped many CoffeeHousers’ notice that, despite the tough talk on the deficit, the government is still borrowing almost £20m per hour. The cost of servicing our
