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Privatisation (Costs)

Part of Prayers – in the House of Commons at 1:45 pm on 5th April 1995.

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Photo of George Young George Young The Financial Secretary to the Treasury 1:45 pm, 5th April 1995

When we entered office in 1979, the nationalised industries were costing the state £50 million a week. The industries that we subsequently privatised are now producing revenue of £50 million a week—a massive fiscal turnround, of real benefit to taxpayers.