"High and volatile #energy prices squeeze households while generating windfall profits at the top of the supply chain. #Water companies extract while services deteriorate. #Housing supply is managed for margin as a generation is locked out."

"It is the supply-side equivalent of the pre-2008 financial regime: a framework that monitors symptoms while the architecture that produces them goes unchallenged."

#UKPol #Manchesterism

https://www.newstatesman.com/politics/economy/2026/05/the-case-for-manchesterism

The case for Manchesterism

The lesson of 2008 is incomplete In the wake of the 2008 financial crisis, regulators concluded that monitoring individual banks for individual risks had been insufficient. The crisis was not the sum

New Statesman
"#Austerity, ageing infrastructure, a cumbersome planning system, global energy shocks, and the long tail of #Brexit have all contributed to a single failure: the inability of either the state or the market to build, invest and provide necessities at the scale and cost required. A central source of the problem was the #privatisation of essential services that transferred responsibility from public providers mandated to meet social needs to private actors with a mandate for profitability alone."

"Energy, water, housing, transport and care are domains of inelastic demand, captive consumption, natural monopoly, and existential need. Under these conditions, market governance of the supply side does not produce competitive discipline. It produces rent extraction, under-investment, and the systematic transfer of risk to those least able to bear it."

#UKPol #Privatisation

"The retrenchment of public control has created an economy with a particular pathology. It extracts where it should invest. It fragments where it should coordinate. It prices for profit where it should provide for use."

#UKPol #Privatisation

"Since the mid-1990s, privatised transport, energy, and water companies have extracted close to £200 billion in dividends while delivering lower investment than their public predecessors."

"Britain’s essential sectors cost more than comparable alternatives not because they deliver more, but because they are organised to extract more."

#UKPol #Privatisation

@PoliceStateUK So why is Michael Portillo one of the chief architects of this disaster all over our TVs like a rash? #Privatisation
@pedestrians1st Because we don't have guillotines in the UK? 😉
@PoliceStateUK The tories perfected the process of enshittification long before Cory Doctorow popularized the word.

"The third objection is political-economic, and it is the most serious. It is that the coalition required to deliver this agenda does not yet exist, that 40 years of #privatisation and labour market change have hollowed out the constituencies on which a programme of this scale would depend. The objection is partly correct: the coalition is not yet built. But this is a description of the political work required, not a counter-argument."

#UKPol #Economy #Manchesterism