Labour’s big economy announcements yesterday (25 July) were marred by rows over its position on public ownership. Keir Starmer and the shadow chancellor, Rachel Reeves, initially ruled out bringing crucial public utilities into state ownership, before she back-tracked and confirmed Labour’s support for rail nationalisation. The party is out of line with public opinion, out of line with global economic trends, and may even find itself on the wrong side of the Conservatives on the issue.
Public ownership is popular – hugely so. There is majoritarian support for water, buses, railways and gas and electricity supplies being in public hands. Conservatives are only slightly less likely to support public ownership than Labour voters: 60 per cent of 2019 Tory voters support the public ownership of energy, according to one poll by Savanta ComRes. With privatised water companies dumping sewage in our rivers, privatised energy companies administering extortionate bill increases, and privatised bus companies cutting essential services, the 1980s model of essential services has run out of road.
Content from our partners
