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Jeremy Corbyn will nationalize UK utilities in 100 days. 'Simply huge' changes loom if Labour wins the election
CNN ^ | 12/09/2019 | Julia Horowitz

Posted on 12/09/2019 3:13:39 PM PST by SeekAndFind

Whoever wins this week's UK election, there's more at stake for businesses and investors than at any time since the 1970s — and it's not all about Brexit.

The future of Britain's plan to leave the European Union, which would reverse 46 years of trade and economic integration, could be decided on Thursday. Huge domestic policy change also looms large. Britain's two main political parties both want to increase government spending after a decade of painful austerity under Conservative-led administrations. But opposition Labour Party leader Jeremy Corbyn has pledged to dramatically expand the role of the state and boost public spending to levels not seen in a generation if voters send him to Downing Street on December 12.

On Labour's policy wish list: nationalizing major utilities, a 32-hour work week, giving 10% of shares in large companies to workers, increasing the power of unions, freezing the retirement age at 66 and building out public housing stock on a large scale. The party has pledged to finance higher spending with big tax hikes for corporations and Britain's wealthiest 5%. Borrowing to fund investment would reach £55 billion ($72.4 billion) annually by fiscal year 2023.

The overhaul would unfold at breakneck pace. Labour said Monday that it would begin the process of nationalizing water and energy companies within 100 days of taking office.

"It's clearly a blueprint for a long term, fundamental change of the role, size, scale and scope of the state in the UK," Paul Johnson, director of the Institute for Fiscal Studies, an independent research institute, said at a recent presentation to journalists.

Proposed changes to taxes, spending and regulation would put Britain in line with many of its Western European neighbors. But such changes would look "very different from anything we've experienced, certainly since the 1970s," Johnson said.

(Excerpt) Read more at cnn.com ...


TOPICS: Business/Economy; Foreign Affairs; Politics/Elections; United Kingdom
KEYWORDS: bojo; borisjohnson; brexit; brexitparty; clintonnonnews; cnn; europeanunion; jeremycorbin; juliahorowitz; labour; labourparty; nationalization; nato; nigelfarage; uk; unitedkingdom
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1 posted on 12/09/2019 3:13:39 PM PST by SeekAndFind
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To: SeekAndFind

So they are going freeze in the dark?


2 posted on 12/09/2019 3:14:45 PM PST by 2banana (My common ground with islamic terrorists - they want to die for allah and we want to kill them.)
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To: SeekAndFind

How to build a prison camp.


3 posted on 12/09/2019 3:17:46 PM PST by Track9
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To: SeekAndFind

Good slide into the abyss of Venezualianism.


4 posted on 12/09/2019 3:20:09 PM PST by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~ Eat Sleep Fly Repeat ~)
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To: SeekAndFind

Lucas electronics...

...that is all.


5 posted on 12/09/2019 3:23:44 PM PST by exPBRrat (.)
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To: SeekAndFind

This is the idiocy Thatcher saved the UK from once before. British GDP per capita had fallen almost to the level of Spain - in the 1980’s.


6 posted on 12/09/2019 3:26:27 PM PST by colorado tanker
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To: SeekAndFind

Their very own Bernie Sanders. He’s not going to win, but it’s going to be uncomfortably close. Muslims vote.


7 posted on 12/09/2019 3:26:36 PM PST by cdcdawg (“So I learned about roaches. I learned about kids jumping on my lap,” Biden said.)
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To: exPBRrat
Lucas electronics...

The winning post!

Lucas, the Prince of Darkness!

8 posted on 12/09/2019 3:28:23 PM PST by Mogger
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To: SeekAndFind
...nationalizing major utilities, a 32-hour work week, giving 10% of shares in large companies to workers, increasing the power of unions, freezing the retirement age at 66 and building out public housing stock on a large scale. The party has pledged to finance higher spending with big tax hikes for corporations and Britain's wealthiest 5%. Borrowing to fund investment would reach £55 billion ($72.4 billion) annually by fiscal year 2023.

AKA: How Socialism will destroy the nation's economy in less than five years.
The next invasion of illegal aliens coming across the Canadian border will probably be Brits.

9 posted on 12/09/2019 3:28:53 PM PST by immadashell (Save Innocent Lives - ban gun free zones)
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To: SeekAndFind

He’s a Communist.


10 posted on 12/09/2019 3:29:01 PM PST by dljordan
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To: exPBRrat

Indeed, they have to pay.


11 posted on 12/09/2019 3:31:07 PM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Another horse's ass at CNN, this one carrying water for the Remainers and (ironically, since he favors Brexit) the Jew-hating former Soviet asset, Jeremy Corbyn.

12 posted on 12/09/2019 3:31:17 PM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: Track9
self funded too
13 posted on 12/09/2019 3:32:10 PM PST by Chode (Send bachelors and come heavily armed.)
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To: dljordan

And an apologist for terrorists.


14 posted on 12/09/2019 3:32:38 PM PST by lastchance (Credo.)
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To: SeekAndFind

British Rail, British Leyland, both ideal examples on how this is going to work out...


15 posted on 12/09/2019 3:32:55 PM PST by Don W (When blacks riot, neighbourhoods and cities burn. When whites riot, nations and continents burn.)
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To: SeekAndFind

Bernie wants to do the same thing. Full communism.


16 posted on 12/09/2019 3:41:07 PM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: SeekAndFind

I’m starting to think Corbyn wants Boris to win by a landslide.

Corbyn is doubling down on stupid. Of course he’s advocating policies he likes and probably thinks everybody should like.

Here’s to Brexit and England getting their immigration under control!!


17 posted on 12/09/2019 3:54:30 PM PST by DannyTN
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To: SeekAndFind

Loony Brits going for the Socialist Pairofdice to compliment their Islamic No-Go Zones.


18 posted on 12/09/2019 3:55:08 PM PST by PIF (They came for me and mine ... now it is your turn ...)
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To: Track9
How to build a prison camp.


A large island is a huge advantage if you are building a large prison camp.
19 posted on 12/09/2019 4:02:54 PM PST by The_Media_never_lie (Please, oh pretty please let Crazy Uncle Joe Biden be the nominee.)
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To: The_Media_never_lie

Just a reminder: Lucas Electronics builds refrigerators. Would you eat food being cooled by the Prince of Darkness?


20 posted on 12/09/2019 4:12:26 PM PST by buffaloguy
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