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From The Socialist newspaper, 5 February 2020

Labour leadership contest and public ownership

photo CCO/CC

photo CCO/CC   (Click to enlarge)

Sarah Sachs-Eldridge, Socialist Party executive committee

A debate, of sorts, is opening up on nationalisation in the Labour leadership election. Support for public ownership - or not - is an indication of which class interests a party serves - workers or bosses.

The Socialist Party welcomed the pledges to renationalise rail, the water companies, Royal Mail, the energy companies and BT Openreach in Jeremy Corbyn's general election anti-austerity manifesto.

But we also said that it is necessary to go further still - to take the main levers of the economy out of the hands of the billionaires and place them into the hands of the working-class majority - in order to democratically plan production in the interests of all.

Voters polled in December 2019 were six percentage points more likely to support railway and water nationalisation than they were at the 2017 election. The same poll found that support for nationalising bus companies is up nine points. Support for public ownership is even higher among young people.

A spokesperson for the right-wing frontrunner Keir Starmer said: "Keir supports expanding common ownership, whether by outright nationalisation or by other forms such as municipals, community organisations or co-operatives: all of which mean services are run for the public, not for shareholders."

Another right-wing candidate, Lisa Nandy, backs rail nationalisation (who doesn't?) but opposes public ownership of energy. Rebecca Long-Bailey on the other hand says she supports the Labour Party manifesto.

There may be circumstances where genuine workers' cooperatives can play a positive role - but Starmer is attempting to blur the lines on what nationalisation is about.

Publicly owned companies should be run not "for the public" under "common ownership" but under democratic workers' control and management, based on elected committees of service users and representatives of the trade union movement in each workplace, the trade unions nationally, and a government representing working-class interests as a whole.

Compensation should be paid to small shareholders and pension schemes on the basis of proven need. Elected committees, accountable to the working class, could make the call.

To solve the problems faced by both people and the environment requires more than just removing the profit motive from those parts of the economy where it's clear privatisation has failed - it means removing the grip of big business from society altogether.

Recent figures put it clearly. While austerity has seen wages stagnate over the last decade, the amount paid to shareholders by the UK's largest companies listed in the Ftse 100 has doubled. It reached a record 110 billion last year! Since 2011, another 20 billion a year has been spent by companies on share buybacks in the UK.

Nationalisation of the top 150 companies and banks that dominate the economy would provide the basis to begin democratically planning production, and the use of resources properly, without interference from the 0.1%.

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Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
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In The Socialist 5 February 2020:


News

6.5 million working poor: Fight to end low pay

Labour leadership contest and public ownership

Coronavirus exposes capitalism's weaknesses in healthcare and economy

Record dissatisfaction with democracy: capitalism's dead end

Refuges turn away 64% of women - set no-cuts budgets now!

Grenfell watch: Unions challenge 'mockery of justice'

Them & Us


Rail

Nationalise the railways: For an integrated public transport system

Expensive, overcrowded and unreliable: Renationalise the railways!

Cancel the franchise, not our trains

Will the North get investment and transport infrastructure?


What we think

'Post-Brexit' era of crisis ahead


Workplace news

Huge victory for Bromley library workers after 241 days on indefinite strike!

14 more days of university strikes over pensions, pay and conditions

500 BBC journalists' jobs under threat

Newham council tax workers' pay victory

No to academisation of east London schools!

Ealing tax office workers strike against closure


NHS

Outrageous waiting times will put lives at risk

NHS: Save stroke beds in Coventry and Warwickshire


International

Syria: Assad regime consolidates power after brutal counterrevolution

Israel/Palestine: Trump 'peace plan' promises further conflict


Campaigns

Socialist Party calls anti-austerity protest on Budget Day

Sadiq Khan "out-Tories" himself to defend tech firms' tax bonanza

Socialist Sellers

Reading Labour council: Stop privatising our leisure services

The rich fund the Tories and Blairites, so help fund the working-class fightback

Support the working-class press in 2020

Defend and fight for warm, safe housing for Samira and everyone

Alternative Burns Night success


Readers' opinion

Liverpool council: "No more cuts" - Is Joe Anderson serious?

Socialist Inbox


 

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Nationalisation:

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