Explainer with Nick Dee.
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00:00The new Labour government has announced plans to renationalise the UK's railways, part of
00:07a broader critique of privatisation.
00:10Labour argues that privatisation, originally intended to boost competition and efficiency,
00:16has instead led to higher costs and declining services in many sectors.
00:21For example, since the privatisation of the energy industry in the 1980s, households have
00:26seen energy prices soar, with critics claiming private firms prioritise profits over affordability.
00:35Water companies too have faced scrutiny for rising prices and environmental mismanagement,
00:41including frequent sewage leaks into rivers.
00:44Proponents of privatisation argue it boosts investment and innovation, but many now question
00:50if public services like energy, water and rail should be run for profit.
00:55As Labour pushes for more public ownership, it does beg the question, can you think of
01:01any industry that has improved since privatisation?