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Finances and Economics of the Nationalised Industries

In: British Nationalisation 1945–1973

Author

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  • R. Kelf-Cohen

Abstract

Before the Second World War the industries working under public ownership, such as the Central Electricity Board and the London Passenger Transport Board, had to find their own capital without the help of a Treasury guarantee. In the case of the London Passenger Transport Board this applied even to the stock required for compensation to the owners of the assets taken over by the Board. At the time Mr Morrison stressed the fact that he was not calling on the Exchequer to underwrite the capital of the new Board; he displayed some pride in this form of independence which he abandoned in the post-war nationalisation schemes.

Suggested Citation

  • R. Kelf-Cohen, 1973. "Finances and Economics of the Nationalised Industries," Palgrave Macmillan Books, in: British Nationalisation 1945–1973, chapter 9, pages 134-163, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01541-2_9
    DOI: 10.1007/978-1-349-01541-2_9
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