Competition, Regulation, and the Privatisation of British Rail

R Gibb, J Shaw and C Charlton

Environment and Planning C, 1998, vol. 16, issue 6, 757-768

Abstract: The privatisation programme pursued by successive Conservative administrations in the 1979–97 period was based on neoliberal values, and was aimed at the reduction of public sector involvement in industry by the promotion of a competitive ‘free’ market. However, despite this ideological objective, several large utility companies were privatised as regulated monopolies. Against this background, in a notable reorientation of privatisation policy, the Major administration attempted to secure a genuine movement towards market liberalisation when it divested British Rail (BR). An elaborate methodology was used to break BR's monopoly and establish a competitive market for the provision of passenger rail services. The authors argue that, notwithstanding the complexity of the rail sell-off, competition has not materialised and BR's monopoly has to ail intents and purposes been reconstituted in the private sector.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envirc:v:16:y:1998:i:6:p:757-768

DOI: 10.1068/c160757

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