Policy Update – Renationalisation

The CBI and its members are passionate about building a more prosperous society across all regions of the UK. Nationalising swathes of the economy would hit savers, economic growth and harm users of public services. Combined with on-going Brexit uncertainty the prospect of re-nationalisation would harm the UK’s international reputation as a good place to do business.

Delivering one of the 2019 Roscoe Lectures at Liverpool John Moores University, CBI Director-General, Carolyn Fairbairn, recognised that the Labour Party was asking the right questions about the UK’s infrastructure, utilities and public services but said it proposes a solution that would be the biggest departure from economic consensus in thirty years and cost the country over £175 bn.

Read CBI’s warning on Labour’s renationalisation plans

In the speech, Carolyn argued that the lack of accountability and competition was the root cause of public dissatisfaction in industries the Labour Party had earmarked for public ownership.