Reply to post: Re: Political self-obsession and onanism

Labour: Free British broadband for country if we win general election

Anonymous Coward
Anonymous Coward

Re: Political self-obsession and onanism

>The reason BT was privatised in the first place is that every time the telephone network needed major investment the Treasury had kittens about public borrowing and the plans were scaled back and shelved

Not true, privatisation was a political decision to raise cash while lowering taxation - the preferred option by the commission and most experts was funding via a bonds issue (The Busby Bond) as much of the telephone network would always run at (sometimes enormous) loss.

Unsurprisingly BT consumes vast amounts of public funds but still fails to provide decent service when it's unprofitable - if they had to stand alone as a private company, in fact even if OFCOM were given the teeth to require the service level expected currently, BT would have collapsed years ago.

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