UK Interest Rate Rise

EarthRod

British Telecom remained part of the Post Office (ie government) until 1984 when a Bill (Act?) was passed and 50% of shares of British Telecom were sold to private investors. In 1991 the government sold more shares into private hands which reduced it's holdings to 22%. In 1993 the government sold all it's remaining shares which raised about £5 billion for the Treasury.

The government paid for the very expensive installation of new electronic telephone exchanges country wide in the 1970s and for the purchase of new electronic telephones and other engineering plant.

After the roll-out was completed it was decided in 1982 to engineer the gradual privatisation of telecommunications away from government control and into private enterprise. That process started in 1984 when the Bill or Act was passed through parliament.

Jezza99

So what you are saying is that UK Treasury received £5bn from the sale in 93, plus a lot more from the sales in 84 and 91?

Sounds like the UK taxpayer was more than adequately compensated for their investment in the 70's.

EarthRod

I'm only stating what I know.

As I've said before - other people can put their own opinions and political extrapolations onto that baseline.

mjn

0.25% increase?

Meh. Means i'll be paying an extra £19 / month in mortgage interest.

Wonder if NS and I will be paying out more Premium Bond prizes......