The government has pressed ahead with privatisation of the East Coast Mainline precisely because of its success
It should be obvious by now that privatisation has become an end in itself for this government. This was demonstrated last year by the rushed privatisation of Royal Mail, sold at a fraction of its worth despite bringing in a significant profit to the taxpayer as a state-owned company.
We are told that we live in straightened times where government money is hard to come by; and yet state-owned companies that are making not insignificant sums for the exchequer are hastily being taken off the books and handed to the private sector. In these supposedly non-ideological times ideology is regularly trumping pragmatism. Read More