Labour reverses pledge to nationalise energy, water and mail if it wins next general election 🚆 The shadow Chancellor Rachel Reeves suggested that the railways were the only sector in line to be taken over by the state
had proposed nationalising all those industries, and Sir Keir Starmer said during his own leadership campaign that they should be taken into “common ownership”.
“I think with trains it’s a different point, because as those contracts come up for renewal I think the Government have got every right to bring those into national control given the mess that some of our train operators have made of our transport infrastructure. But we would not be looking to nationalise a whole swathe of industries.”
She said: “I would prioritise incentives to support investment, because if businesses make profits – I want business to make profits – it’s up to them what to with those profits, to use those profits for share buybacks or dividends, or to use that money to invest. It’s the investment that I want to encourage and incentivise, because it’s investment that results in productivity gains and economic growth, and that is what we desperately need in Britain.
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