Labour hasn’t understood privatisation

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From the FT:

The UK government is to take over the East Coast rail route between London and Edinburgh from National Express, the struggling bus and rail operator, which on Wednesday said it expected to walk away from the loss-making franchise later this year.

In a toughly-worded statement, Lord Adonis, transport secretary, said: “It is simply unacceptable to reap the benefits of contracts when times are good, only to walk away from them when times become more challenging.”

I really think Andrew Adonis needs to smell the coffee: that’s what private sector companies do. Didn’t he realise? And it’s also why they’re quite unsuited to supply public services.

When will the penny drop?