The nature of privatisation in Britain, 1979–85

Since 1979 the term ‘privatisation’ has been much in evidence. It usually refers to three attempts by the Thatcher governments to ‘roll back the public sector’ ‐ selling parts of the nationalised industries, opening them up to greater competition, and contracting out public sector services to the private sector. This article argues that the thrust of the privatisation strategy goes much wider than is usually appreciated. It describes the case for it; examines the problems of defining it; outlines the forms it has taken; analyses the government's approach to it; and shows how its promotion has depended in part on government intervention and subsidies.