Licence to print money

DOMINIC SANDBROOK described the perils of coping with the nationalised service industries with the off-quoted tale of the phone and railway shortcomings.

What the ordinary worker never understood was why, as soon as the industries were privatised, people were suddenly found who could bring efficiency to the industries. Why weren’t these people put in charge,

under a Secretary of State, when these industries were under public ownership?

They could have been given a free hand and a huge sevenfigure salary as reward for the modernisation of the industries. And if they weren’t successful? Then no bonus and their one-year contract not renewed.

In its first year as a privatised company, BT’s profits from the domestic phone market would have funded two hospitals and ten schools. But the money went elsewhere — to shareholders around the world. IVOR MORGAN, West Bromwich, W. Mids.