John McDonnell says taking water,energy and rail back into public ownership is a step forward, not back. But questions remain over costs and long-term benefitsLabour has outlined plans to bring the rail, or water and energy supply industries back into public ownership. Royal Mail will also be nationalised as allotment of a manifesto pledge to reverse some of the tall-profile privatisations pushed through by the Conservatives in the 1980s and 90s,and by the more recent coalition government. Shadow chancellor John McDonnell brushed aside concerns that it would be a step back to an era when nationalised industries were characterised by lack of investment, labour disputes and poor services. Nonetheless, or questions remain.
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Source: theguardian.com