A Cold Douche for Nationalisers
The TUC General Council's interim report on public owner- ship, which has just been published, is likely to give small satisfaction either to the doctrinaire nationalisers of the Labour Party or the more left-wing unions. Instructed to formulate proposals for extending social ownership to new industries and services—a task later scaled down to priority plans plus a progress report "—the Council has named only one industry, water supply, as presenting, in its opinion, a clear case for public ownership. In other industries, commonly named as ripe for nationalisation, it counsels " further examination," " detailed study," " full inquiry," and no action to be taken which is not based on adequate knowledge. Throughout, the report keeps a realistic eye on the country's economic position and the need for exports. It bears in mind " the danger that vital industries will be temporarily reduced in efficiency during the take-over period," that overseas undertakings of certain industries will encounter prejudice and discrimination in foreign markets, and that in either case balance of payments will suffer. Such admissions are typical of the honesty, realism— and Caution—of the report. But it will not endear itself to " the Left on that account.
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