Socialising the losses and the profits
Private ownership of essential services has been proven to be worse than public ownership, as the owners’ real customers are their shareholders – not our society. The costs for the ultimate customer haven’t gone down, the service hasn’t improved and the management of the private companies are required by law to maximise the shareholder’s profit. And as we’ve recently seen with power generators, we subsidise the private owners of essential assets if economic conditions change! If we privatise the profits, why do we accept socialisation of the losses?