Les dénationalisations britanniques : objectifs et réalisations

Abstract

Privatization in the United Kingdom aims and achievements, by Jean-Jacques Santini. The policy of privatization which the United Kingdom embarked on in 1979 is far-reaching enough to constitute an unprecedented experience which most of the industrialized nations are observing with interest. After a short summary of the main development in the british public sector from 1945 to the present days, this paper attempts to analyse the privatization policy which Mrs Thatcher's government is carrying out in terms of its aims and achievements. The process is far from complete at the moment and is even likely to speed up over the next three years, furthermore its impact cannot always be appreciated in the short term, so the conclusions which are drawn remain incomplete. It would appear, nevertheless, that the main objectives of the British Government — improving the performance of public sector firms, reducing State influence on the economy, relaxing budgetary constraints, developing popular investment and employee share schemes and reducing the power of the unions — have been accomplished to a satisfactory extent. Although certain questions remain to be answered, the British privatization policy, which has been reasonably empirical in its approach, appears successful enough to be considered as an example to be followed by some other countries. JEL: Classification number 614.