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The Thatcher administration had already sold off nearly all the former state-owned industries, apart from the national rail network. Although the previous Transport Secretary Cecil Parkinson had advocated some form of privately or semi-privately operated rail network, this was deemed "a privatisation too far" by Thatcher herself. [ 30 ]
After extensive privatisation of the public sector during the Margaret Thatcher administration, there remain few statutory corporations in the UK. Privatisation began in the late 1970s, and notable privatisations include the Central Electricity Generating Board, British Rail, and more recently Royal Mail.
Olympic Airways – at first, then Olympic Airlines; the Hellenic State attempted to privatise the ailing airlines five times, more or less, from 2004 onwards. The company was folded and re-created in 2009, and privatized in 2012, under the supervision of the EU and IMF, as it was part of the debt-restructuring process of 2012.
The Thatcher administration had already sold off nearly all the former state-owned industries, apart from the national rail network. In its manifesto for the 1992 general election the Conservatives included a commitment to privatise the railways, but were not specific about details. They unexpectedly won the election on 9 April 1992 and ...
Corruption (or principal–agent issues) in a state-run corporation affects the ongoing asset stream and company performance, whereas any corruption that may occur during the privatization process is a one-time event and does not affect ongoing cash flow or performance of the company.
North Sea oil created a major new industry after 1970, and some older firms successfully took advantage of the opportunity. John Brown & Company's shipyard at Clydebank transformed itself from a traditional shipbuilding business to a factor in the high technology offshore oil and gas drilling industry. [51] Popular response varied.
This category includes articles on industries and companies that were nationalised by the government of the United Kingdom (but which were later re-privatised) and the legislation that brought them into state ownership.
The manufacturing industry was considerably affected during the first Thatcher government: employment in this sector decreased by almost 20 per cent between 1979 and 1982. This decrease drove almost all of the drop in employment for this period. [3] Productivity started seeing considerable growth during the 1979–1982 period in some industries.