One of the great myths about the turbo-globalist neoliberal model is that it is "free market". The reality is that the system requires enormous state support to survive: in Britain for instance, having a privatised railway system costs the taxpayer four times more in subsidy than it did when the railways were publicly owned. And our privatised bus services are no different, next time you're in the Scottish Highlands, take a peak (from the road, because they won't let you go any nearer) at either of the two huge castles, Ann Gloag, the co-founder of Stagecoach now owns, thanks in no small part to the enormous public subsidies her company has received. (And in 2003 she was still after more taxpayers money!) A more accurate way of describing the turbo-globalist neoliberal model is to call it theft on a massive and audacious scale. And the theft is from you and me, dear reader, as it's our money that is being spent in keeping afloat the privateers, bankers and the other financial insitutions who because of the state safety cushion, are really on a no-lose bet. Just think back to the summer, when central banks in the US, UK and Europe used taxpayers money to bail out financiers who, in order to make even higher profits, had lent with incredible recklessness. Now, at last, some respected commentators are saying enough is enough, and calling for the state to take banks which it bails out- like Northern Rock- into public ownership.
But this issue is not just about Northern Rock. In the interests of fairness, it's time to campaign for the adoption, by the government, of a very simple principle: not a penny of taxpayers money should be handed over to a privately owned company without the public gaining equity in that company.