John Cartmell wrote:

Thank you for the good illustration. A failure of management that was typical
of the UK and a need to re-invest in industry that North Sea Oil could have
provided. All thrown away by Thatcher.

Yes the failure is typical of British management and poor investment
policies.
No, Thatcher had nothing to do with it. The company failed in 78 under
a Labour government. Industry should not need taxpayers money. The
capital markets can provide adequate funding if the product/service is
sound. The US grows industrial companies at a very rapid rate, which are
not taxpayer subsidised.

Thatcher was the person who did not allow BL to go into liquidation. A
very bad mistake, as inefficiency continued until the company finally
collapsed last year.


Re Major:-

So he privatised the railways.

Badly. The whole operation should have been privatised and price
decontrolled as one entity IMO. There is no case for the majority of
taxpayers to subsidise the travel costs of a small minority(except
perhaps in poor rural areas). Airlines etc don't need subsidies(unless
they are American/European with poor control of wages and efficiency due
largely to union strength/greed). Given a few (5?) years for rail fare
adjustments to an economic level and provide a real return on capital,
the market will sort out the mess the politicians always produce. The
folly of increasing population density in city centres was recognised in
the 40's, and action taken, but appears to now have been forgotten,
resulting in unbelievably squalid travelling and living conditions at
the present time. The same policy mistakes are now being repeated with
London Underground under Bliar/Livingston. The general public will pick
up the tab as usual.

Regards
Capitol