Bankers, Bosses, Hedge Fund Managers and Directors Panic-Stricken in Anticipation of a Radical Labour Government in Britain

The Tory press is apoplectic in their fear of public utilities and the railways being taken back into state ownership and the consequent loss of huge dividend payments to already wealthy investors.

Labour’s shadow chancellor, John McDonnell, in his speech at the Labour Party conference in Liverpool detailed plans to renationalise the water companies and sack their current executives before re-advertising their jobs with dramatically reduced salaries.

Sources within the Labour Party confirmed that such action would apply to all utility sectors taken back into public ownership and that the huge dividends currently paid out to private and other shareholders would instead be reinvested in the companies themselves.

There is little doubt that the electorate as a whole is sickened by the profiteering of the water, power and electricity companies since privatisation that has seen utilities bills double and treble since being sold to the private sector in a move that has made billionaires out of the sale and resale of these national assets often to foreign investors.

Now that it seems more than likely that there will be a Labour government, the moneyed classes are already making plans to move their assets and themselves abroad. The United Kingdom government under Labour will in future work for the people as a whole and not merely to enrich the city bankers and hedge fund operators.

The Institute of Directors (IOD) and the Confederation of British Industry (CBI) are incandescent with rage and impotent in their fury in the face of the anticipated reforming Labour government that will replace eight years of Tory rule.

Now Britain looks forward to a new technological age where railways are super efficient with up to date rolling stock and well maintained track, that enables trains to run on time and where utility bills reflect the true cost of provision and not of dividends to fat cat investors.

A country where British national assets are returned to public ownership and control and where Thatcherism is recalled as just another failed Conservative party policy that served to enrich its own supporters whilst impoverishing the rest of us.

Those days will soon be long gone.

*

Note to readers: please click the share buttons above. Forward this article to your email lists. Crosspost on your blog site, internet forums. etc.

Hans Stehling (pen name) is an analyst based in the UK. He is a frequent contributor to Global Research.


Comment on Global Research Articles on our Facebook page

Become a Member of Global Research


Articles by: Hans Stehling

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]

www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: publications[email protected]