Thursday, July 31, 2008
It's a Gas: Ripping off the Public in Privatised Britain
The Daily Mail reports:
The parent company of British Gas today announced profits of £992m - just one day after customers were hit with a staggering 35 per cent rise in the cost of gas.
The astonishing thing about this news is that some people find it astonishing. Centrica, the parent company of British Gas, is a plc, and as such its first priority is not to the long-suffering British public struggling to make ends meet, but to make as much profit as possible for its shareholders. That's what plcs do.
Our anger should be directed not so much at Centrica, but our bovine political class who privatised our utilities in the first place, and who still reject the one step that would end the profiteering: taking our utilities back into public ownership.