The Dangers of Nationalization in the UK

The UK has not got a great track record of running nationalized companies on a commercial basis free from political interference. People have this idea that somehow state owned companies are going to be well run entities. But actually what it takes for that to happen is they have to be run like private companies. How can we have what's regarded as some as a market economy when we have monopolies? Well, I think implicit in your question is that a state owned monopoly is somehow good and a fine idea of monopoly. If it's a private monopoly and it's successful, by definition, it will be extracting value from that business and taking it away from customers.