Competition and pay
Let’s face is, there was little point in the government owning large parts of BP or RR, once it was back on its feet. But the privatisations of many other organisations in the 1980’s were done at any cost, threw tax payers money at the bosses who took their business out of public ownership, and then failed to introduce competition or regulate companies with no competition.
Take water companies, which used to be water boards, they supply a commodity which people die without and which no business can operate without and they are a total monopoly. There is no point whatsoever having two water pipes to your home.
But that also means the profits that water companies, and many others, make could be made by a 5 year old, working part time.
The pay, let alone the bonuses, of a water company CEO bear no relation to the risk, difficulties and scale of the job.
Very, very average middle managers are paid a fortune, they screw their workers wages down, they wreck the environment and they fail to ensure a supply of a vital utility.
But they still get paid a fortune, even when they have never faced a single, solitary competitor in their life.
Head of the local water board used to be reasonably well paid, respected, secure, unexciting, responsible, dull job.
There is nothing to suggest anything has changed, except privatisation.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.