The British Labour Party and Community Ownership Plans
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- Published on Sunday, 29 November -0001 16:00
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A Socialist Project e-bulletin ... No. 1675 ... September 26, 2018
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The British Labour Party and Community Ownership Plans
Shadow Chancellor John McDonnell MP has unveiled Labour’s plans for a new, publicly-owned water system, run by local councils, workers and customers and for “unprecedented openness and transparency” in how the industry will be managed. Building on Labour’s manifesto commitment to bring key utilities back into public ownership, for the first time McDonnell has outlined in detail how they would do it.
It comes as part of a package of measures to broaden ownership and control in the economy, including giving workers a third of seats on boards, billions of pounds for public services to be raised from Labour’s Inclusive Ownership Fund and a wide-ranging consultation on putting workers and service users in charge of running the... water, energy, rail and mail industries which Labour will bring into public ownership. McDonnell also announced plans to launch a campaign against corporate tax avoidance and for Nobel laureate Professor Joseph Stiglitz to speak at the first meeting of a new ‘Bretton Woods’ international forum to reform global economic institutions.
Coming off the back of plans to set up a dedicated public ownership unit in the Treasury set out earlier this week, McDonnell said Labour were “planned, ready and prepared” to hand economic power back to workers, citizens and communities to a degree never seen before. He added that the Labour Party is ready “not just to fight another election campaign but to implement our programme when we win” and that “at the heart of our programme is the greatest extension of economic democratic rights that this country has ever seen.”
