The official history of privatisation: 1 The formative years 1970 - 1987
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London ; New York
Routledge
2009
|
| Edition: | 1. publ. |
| Series: | Whitehall histories : government official history series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXII, 598 S. Ill., graph. Darst. |
| ISBN: | 0415469163 9780415469166 |
Staff View
MARC
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| 100 | 1 | |a Parker, David |d 1949- |e Verfasser |0 (DE-588)128654376 |4 aut | |
| 245 | 1 | 0 | |a The official history of privatisation |n 1 |p The formative years 1970 - 1987 |c David Parker |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a London ; New York |b Routledge |c 2009 | |
| 300 | |a XXII, 598 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Whitehall histories : government official history series | |
| 650 | 7 | |a Privatisations - Grande-Bretagne |2 ram | |
| 651 | 7 | |a Grande-Bretagne - Politique économique - 1964-1979 |2 ram | |
| 651 | 7 | |a Grande-Bretagne - Politique économique - 1979-1997 |2 ram | |
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Record in the Search Index
| _version_ | 1804138641112432640 |
|---|---|
| adam_text | CONTENTS
List of abbreviations
xi
Lisí oj figur
es,
tables and plates
xv
Acknowledgements
xvii
Preface
xix
1
Nationalisation to privatisation:
1945-79 -
the genesis of a
policy idea
1
The origins of state ownership
1
The public corporation
3
The
1945
Labour Government
6
Early difficulties
8
Growing disillusionment
12
A dismal performance?
15
We cannot go on like this
17
Privatisation: the economic rationale
18
2
The Conservative Party, nationalisation and the
1979
General Election
27
The Heath Government,
1970-4 29
Margaret Thatcher and The Right Approach
37
Uncertain direction and the
1979
General Election
44
3
Balancing the books: privatisation and the
1979-83
Government
52
The first hesitant steps
53
The search for assets to
seil 60
More early difficulties
64
The lady s not for turning
68
A lack of progress
70
The
1981
Budget ami its aftermath
74
Ä
new momentum
77
The CPRS Report on regulating privatised monopolies SO
A privatisation programme takes shape
82
mt
CONTENTS
4
Privatising oil
89
The beginnings
89
A faltering start
91
An uncertain future for BNOC
95
Continuing delays, the BNOC Revenue Bond and the
Lazard
Report
98
The disposal of Wytch Farm and Enterprise Oil
103
Britoil
109
5
Privatising British Aerospace and Cable and Wireless
113
British Aerospace
113
Cable and Wireless
124
6
Privatising Amersham International, the National Freight
Corporation and Associated British Ports
136
Amersham International
136
The National Freight Corporation
140
Associated British Ports
147
7
The First Four Years: a retrospective
157
8
Isto
the heartlands of the public trading sector: privatisation and
the
1983-7
Thatcher Government
166
Economic and political developments
167
Privatisation policy
172
Competitive tendering
179
The welfare state
184
9
Privatising British Airways, Rolls-Royce, shipbuilding and
the Royal Dockyards
189
British Airways
189
Rolls-Royce
198
Shipbuilding
202
The Royal Dockyards
210
10
Privatising
bas
transport and the Royal Ordnance Factories
216
The deregulation of bus services
217
Selling the National Bus Company
222
The Scottish Transport Group
225
Local authority bus services and London buses
229
Bus privatisation: an assessment
229
The Royal Ordnance factories
232
mix
CONTENTS
11
Privatising British Telecom: the decision to privatise
240
Background to the decision to privatise
240
The coming of competition: Mercury Communications
244
The Buzby Bond
247
Privatise instead
250
The
1982
Telecommunications Bill
253
An uneasy passage and union and industry concerns
256
Negotiating the
ВТ
licence
262
12
Privatising British Telecom: OFTEL and regulating profits or prices
266
Founding the Office of Telecommunications
267
Regulating profits or prices?
271
A substantial degree of risk and uncertainty
279
Finalising X=3%
287
13
Privatising British Telecom: the flotation and repercussions
290
Early planning
291
Organising the sale and investor incentives
294
Marketing the sale
300
Structuring the flotation
302
The share flotation and setting the issue price
307
A good result
317
Results and later developments
320
14
Privatising British Gas: the decision to privatise and
designing an appropriate regulatory regime
330
Early measures
331
The gas showrooms: a privatisation failure
335
The decision to privatise British Gas
338
The introduction of the Gas Bill
344
The regulatory regime
346
The price cap
359
A regulatory dwarf?
361
15
Privatising British Gas: the flotation and aftermath
364
Planning the sale
365
The marketing campaign
372
The employee share offer
3 76
Profitability·, the balance sheet and accounting practices
378
Other difficulties
386
Tell
Т
388
The Pathfinder prospectus and setting the share price
390
The flotation achieved
393
Conclusions and aftermath
394
CONTENTS
16
Nationalisation and privatisation
1970-87:
an overview
and conclusions
398
Managing the privatisation process
403
Setting the share price, underwriting the issues and the use of
instalment payments
414
The special share
426
Widening property ownership
430
Employee shareholdings and pension arrangements
434
Economic regulation
438
Privatisation and economic performance
441
Conclusions
446
Appendix: The privatisations May 1979-June
1987:
a listing of the
principal advisers
450
Notes
466
References
577
Index
590
LIST OF FIGURES, TABLES
AND PLATES
Figures
2.1
UK inflation
1970-8 35
3.1
UK inflation
1979-83 83
8.1
UK inflation
1983-7 167
14.1
Changes in the UK energy market
1975-85 332
15.1
BGC privatisation
—
issuing House Progress Group organisational structure
February
1986 368
15.2
Movements in oil prices in
1986 381
16.1
Outline of the typical steps to privatisation
405
Tables
1.1
The main industries taken into state ownership
1945-51 7
1.2
Nationalised industry growth rates
1960-75 16
1.3
Profitability of public corporations and industrial and commercial
companies
1970-85 17
3.1
Income tax and National Insurance contributions as a percentage of
gross earnings
1979/80
and
1982/3 53
3.2
Public expenditure, taxation and the PSBR
1979/80
to
1982/3 53
3.3
Nationalised industry financing
1980/1
to I982/3
66
3.4 1979/80
planned disposals in December
1979 67
3.5 1980/1
planned disposals in December
1979 67
3.6 1980/1
planned disposals in May
1980 73
4.1
BGC s main oil interests
1980 99
5.1
Cable and Wireless: geographical breakdown of turnover and profits
124
5.2
Commission
structures: British Aerospace,
Britou
and Cable and Wireless
134
6.1
British Transport Docks Board: Financial Record
1973« 147
7.1
Special sales of assets
1979/80-1983/4 158
8.1
Main privatisation candidates January
1984 176
8.2
The major privatisation sales
1979-87 180
8.3
Savings in central government from competitive tendering
1980-6 184
9.1
Results for British Shipbuilders 1982-3
203
9.2
The
ive
large warship builders My
1984 204
ІСП
Bus passenger journeys
1985/6
to
1993/4 230
LIST OF
FIGURES,
TABLES AND PLATES
10.2
Local bus services: operating costs
1985/6
to
1993/4 230
10.3
Average earnings of bus and coach
drivere
1975
to
1994 231
10.4
The Royal Ordnance factories
1985 233
11.1
The finances of
PO
Telecommunications/BT
1973-82 242
13.1
Timetable of main decisions and events in the
ВТ
flotation
296
13.2
The
ВТ
underwriters
307
13.3
ВТ:
the share allocation under the public and employee offers
313
13.4
Estimated receipts from and costs of sale of shares in British Telecom pic
316
14.1
Gas sales by sector
1975-85 332
15.1
Advisers during the British Gas disposal
366
16.1
Privatisation proceeds
1979
to
1987 404
16.2
The cost of sales
412
16.3
The major privatisation sales May 1979-June
1987 416
16.4
The share price appreciation following privatisation: examples
418
16.5
Underwriting commission rates: May
1979-
June
1987 423
16.6
The special shares created: May 1979-June
Î987
428
16.7
Employee participation in privatisation share sales May 1979-June
1987 436
Plates
The following plates appear between pp.282 and
283.
1
The Winter of Discontent, February
1979
2
The National Freight Management Buy Out, February
1981
3
Launching the
1983
Conservative Manifesto
4
Government Front Bench, November
1986
5
Thatcher and the oil industry Will our oil stay British? July
1980
6
British Gas
- 5
days to go , November
1986
7
British Gas Sale Prospectus, November
1986
8
ВТ
-
Stock Exchange Trading Floor, December
1984
9
Now everyone can share in British Telecom s future , November
1984
10
Telecommunications Act
1984
11
Thatcher visiting the Rolls-Royce Aero plant,
1986
XVI
|
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| author_GND | (DE-588)128654376 |
| author_facet | Parker, David 1949- |
| author_role | aut |
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| geographic_facet | Grande-Bretagne - Politique économique - 1964-1979 Grande-Bretagne - Politique économique - 1979-1997 |
| id | DE-604.BV035329473 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T21:31:25Z |
| institution | BVB |
| isbn | 0415469163 9780415469166 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-017133924 |
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| owner_facet | DE-12 DE-521 DE-473 DE-BY-UBG DE-11 |
| physical | XXII, 598 S. Ill., graph. Darst. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | Routledge |
| record_format | marc |
| series2 | Whitehall histories : government official history series |
| spelling | Parker, David 1949- Verfasser (DE-588)128654376 aut The official history of privatisation 1 The formative years 1970 - 1987 David Parker 1. publ. London ; New York Routledge 2009 XXII, 598 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Whitehall histories : government official history series Privatisations - Grande-Bretagne ram Grande-Bretagne - Politique économique - 1964-1979 ram Grande-Bretagne - Politique économique - 1979-1997 ram (DE-604)BV035329467 1 Erscheint auch als Online-Ausgabe 0-203-88152-4 Erscheint auch als Online-Ausgabe 978-0-203-88152-1 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017133924&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Parker, David 1949- The official history of privatisation Privatisations - Grande-Bretagne ram |
| title | The official history of privatisation |
| title_auth | The official history of privatisation |
| title_exact_search | The official history of privatisation |
| title_full | The official history of privatisation 1 The formative years 1970 - 1987 David Parker |
| title_fullStr | The official history of privatisation 1 The formative years 1970 - 1987 David Parker |
| title_full_unstemmed | The official history of privatisation 1 The formative years 1970 - 1987 David Parker |
| title_short | The official history of privatisation |
| title_sort | the official history of privatisation the formative years 1970 1987 |
| topic | Privatisations - Grande-Bretagne ram |
| topic_facet | Privatisations - Grande-Bretagne Grande-Bretagne - Politique économique - 1964-1979 Grande-Bretagne - Politique économique - 1979-1997 |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017133924&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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