Cybersecurity Law aims to “protect people’s interests.” [File photo] China’s Cybersecurity Law will take effect on June 1, banning online service providers from collecting and selling users’ personal information. The internet service providers cann… read more
I was asked to explain why I do not favour nationalising the railways, the Post Office, the water industry and the energy utilities yesterday on the radio.It was a trip down Memory Lane to the arguments of the last century, when Labour made the case for continued or more nationalisation despite all the evidence of the damage their policies did.
Nationalisation was the best way to lose more employees their jobs, to charge customers more, and to sting the taxpayer to pay the losses. The coal industry lost most of its workers when nationalised. The workforce of 704,000 of the newly nationalised industry in the late 1940s had fallen to as few as 235,000 by the time of the election of the Margaret Thatcher government. Despite all the closures of mines and sackings, the losses mounted to be paid by taxpayers.
The railways under public ownership experienced continuous decline. In 1950 they employed 606,000 staff and had 19,471 miles of operating track. By 1976 then under a Labour government staff numbers had more than halved to 244,000 and route miles had fallen to 11,189. The market share of the railways halved, and the number of stations fell by two thirds. The nationalised steel industry too, under Labour and Conservative governments, spent most of its time discussing how to curb the losses by cutting back on capacity and jobs.
Labour say they wish to renationalise the railways. The truth is the main cost and the main assets of the railway are already nationalised. The tracks, signals and stations are owned by Network Rail, itself wholly owned by taxpayers and financed by the Treasury. Many of the delays which affect rail services are the result of signalling failures or other Network Rail caused events. It is Network Rail’s job to expand capacity by improving signalling so more trains per hour can run on the railway.
I was asked why we did not buy shares in water companies whilst keeping in place current private sector management so we participate in the profits. I replied that we have other more important priorities for public sending. In the past government ownership of industries has not brought dividends and profits overall, but losses and the need for more subsidised capital.
The main way to improve service quality and bring down prices of utilities is to increase competition. That is what we need to do in some cases, as there is clearly room for improvement. What we do not want to do is to go back to a world where customers, employees and taxpayers all get a bad deal, which was the typical experience of our nationalised industries.
Labour’s big nationalisation programme has not been costed and is unaffordable. From past experience it would lead to worse service and huge bills for taxpayers.
Published and promoted by Fraser Mc Farland on behalf of John Redwood, both at 30 Rose Street Wokingham RG40 1XU
read morePRIME MINISTER: Yanggu gulanyin ngalawiri, dhunayi, Ngunnawal dhawra. Wanggarralijinyin mariny bulan bugarabang. We are on the lands of the Ngunnawal people and we acknowledge that and we acknowledge their elders past and present. I want to thank Aunty Matilda for … read more
Areas along the Yangtze, China’s longest river, will soon be hit by the first round of heavy rainfall this flood season, authorities said. According to a report published by the Yangtze flood control and drought relief headquarters Saturday night, the… read more
Hong Kong should uphold its executive-led political system with the chief executive at its core, as set out in the Basic Law, the nation’s top legislator said on Saturday.
Zhang Dejiang, chairman of the Standing Committee of the National People’s Congress, said that the development and improvement of the Hong Kong special administrative region’s political system must also be compatible with this basic principle.
Zhang also stressed that the Hong Kong team of public officers formed in accordance with the Basic Law must be composed of patriots who respect the Chinese nation, wholeheartedly support the motherland’s resumption of exercise of its sovereignty over Hong Kong and will not do things that undermine Hong Kong’s prosperity and stability.
Zhang made the remarks at a high-ranking symposium in Beijing commemorating the 20th anniversary of the implementation of the Basic Law of the Hong Kong Special Administrative Region.
He said Hong Kong must adhere to the comprehensive and precise implementation of the Basic Law－the city’s constitutional document that has proved a success since 1997 and has provided a fundamental guarantee for the “one country, two systems” principle to maintain Hong Kong’s long-term prosperity and stability.
Enacted in accordance with China’s Constitution, the Basic Law specifies the guidelines of “one country, two systems” and “Hong Kong people administering Hong Kong with a high degree of autonomy”.
The power exercised by the special administrative region is “delegated by” but “not separated from” the central government, and under no circumstances should anyone be allowed to challenge the power of the central government in the name of a high degree of autonomy, Zhang added.
He called on Hong Kong to rigorously perform its constitutional duty of safeguarding national security through legislation prescribed in the Basic Law, and stop any behaviors or activities that undermine national unity.
The central government has committed itself to upholding the “one country, two systems” policy and the Basic Law, actively supported development in all fields in Hong Kong and faithfully protected the lawful rights and interests of Hong Kong people, Zhang said.
Hong Kong’s Chief Executive Leung Chun-ying, who also attended the symposium, said the “one country, two systems” policy and the Basic Law are “the best constitutional arrangements” for both Hong Kong and the country.
With the combined advantages of “one country, two systems”, Hong Kong can participate in the country’s major development strategies while serving as a “super-connector” between the mainland and the rest of the world, Leung said.
Chairwoman of the Democratic Alliance for the Betterment and Progress of Hong Kong Starry Lee Wai-king urged those from the opposition camp to see the interaction between Hong Kong and the mainland from the positive light of serving the city’s, as well as the country’s, long-term development interests.
Vice-president of the Chinese Association of Hong Kong and Macao Studies Lau Siu-kai believed that people’s opinions may vary because of different political affiliations, but loving the country and the city should be the basic consensus among Hong Kong people.
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