We’ve been hearing a lot about privatisation lately with the Iemma government’s determined plan to privatise the NSW electricity sector (Iemma powers ahead with electricity sale) despite widespread opposition within his own party.
I personally oppose the creation of private monopolies. Consumers realise no benefits from capitalism without the presence of healthy competition.
Another event took place that is likely to steer this debate further:
Today in the media, it was reported that the New Zealand government reached a $555 million deal with Toll Holdings to nationalise its railways. They were originally government owned, but had been privatised in the early 90’s under a previous government.
According to the article, under private ownership, the railway lines have been poorly maintained and many services reduced or cancelled, so the government saw no other option but to repurchase.