The UK's Failed Experiment in Rail Privatization | Wendover Productions
Wendover Productions

The UK's Failed Experiment in Rail Privatization | Wendover Productions

B2Upper-intermediateAugust 28, 202626 min
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This video was made possible by Hover. Set up an email address or website with a custom domain in about two minutes for 10% off at hover.com slash Wendover. On Thursday, May 3, 1979, 31,221,362 voters gathered at polling stations across the United

0:20

Kingdom to decide on who would fill the 650 seats of the House of Commons. Now, any election is important, but this one held particular significance. Over the years leading up to it, the country's manufacturing industry was collapsing, inflation was wreaking havoc on the economy, mass strikes were plaguing both the public and private

0:41

sector, unemployment was exploding, and it was quickly becoming clear that Britain was losing ground to Japan, Germany, the US, and other subjects of post-war economic booms. Margaret Thatcher and her Conservative Party proposed a solution. They would curb the power of unions, cut personal income tax, and privatize nationalized industries.

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