The nationalised industries of the post-war decades lost money, failed to innovate and shed jobs. Today’s revival of state ownership risks repeating the same mistakes.
Devolution to Metromayors seems likely to result in many local “pet projects” which wd be declined by the private sector - eg the revival of the mothballed Doncaster-Sheffield airport which Peel cdn’t make a goer of after many years. À white elephant if I ever saw one. On the other hand with changed metal prices and mine economics, maybe Cornish Metals can make a goer of tin mining in Cornwall, but here the National Wealth Fund is co-investing alongside Mick the Miner’s Vision Blue Fund, and they know what they are doing. DItto Tungsten West, where the changed market environment for tungsten seems to offer NWF à return on the money.
In my dreams I see the state run out of money, provoking a national crisis, leading to an election and the triumph of the right (that is John Redwood right-about-everything). And then I wake up.
Devolution to Metromayors seems likely to result in many local “pet projects” which wd be declined by the private sector - eg the revival of the mothballed Doncaster-Sheffield airport which Peel cdn’t make a goer of after many years. À white elephant if I ever saw one. On the other hand with changed metal prices and mine economics, maybe Cornish Metals can make a goer of tin mining in Cornwall, but here the National Wealth Fund is co-investing alongside Mick the Miner’s Vision Blue Fund, and they know what they are doing. DItto Tungsten West, where the changed market environment for tungsten seems to offer NWF à return on the money.
In my dreams I see the state run out of money, provoking a national crisis, leading to an election and the triumph of the right (that is John Redwood right-about-everything). And then I wake up.