Britain: How do we make Corbyn's speech a reality?

Part 5 - Nationalisation

To achieve such an economy clearly requires mass nationalisation. Corbyn has boldly put this on the agenda, with pledges to nationalise the railways and the utilities. In his speech, Corbyn attacked the parasitic capitalists who use instruments like private equity to squeeze profits out of, for instance, the water industry and run them down, knowing they have no competition anyway.

This pledge is extremely welcome after years of privatisation and the Thatcherite myth that ‘there is no alternative’, to which Blair et al. wholeheartedly subscribed.

But Corbyn’s plans for nationalisation are too timid for their own realisation. Labour plans to let the licences granted to these utility companies expire, rather than to nationalise them straight away. This will give them all the time in the world to undermine any public ownership plans: to cut back all investment, to move assets abroad etc. And by the time the licence expires Labour may be out of office.

We must be bolder and nationalise the utilities - and more - immediately, with no compensation!

Source:

https://www.marxist.com/britain-how-do-we-make-corbyn-s-speech-a-reality.htm

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