This is false. When BT was privatized, the UK government sold the shares and collected the proceeds. That’s not “socializing the costs” any more than in any other divestiture transaction.
> When the Conservatives came to power in 1979, the major nationalised companies were receiving large sums of taxpayers’ money. NERA’s report reveals that in the year to March 1980, the 33 companies it examined were contributing nothing to the exchequer: in fact they absorbed a total of £483 million between them, including £1,199 million in loan finance. British Steel was one of the worst companies requiring £1,020 million in the financial year 1980/81 on a turnover of just under £3 billion (thereby earning itself a place in the Guinness Book of Records).
> This dismal state of affairs has been reversed. In 1987, the 33 companies examined by NERA contributed £8,374 million to the exchequer. Net contributions have continued at a high level in each of the last eight years.
Additionally, these companies went from requiring huge operating subsidies to becoming net contributors to the exchequer through paying taxes: https://www.cps.org.uk/research/the-performance-of-privatisa....
> When the Conservatives came to power in 1979, the major nationalised companies were receiving large sums of taxpayers’ money. NERA’s report reveals that in the year to March 1980, the 33 companies it examined were contributing nothing to the exchequer: in fact they absorbed a total of £483 million between them, including £1,199 million in loan finance. British Steel was one of the worst companies requiring £1,020 million in the financial year 1980/81 on a turnover of just under £3 billion (thereby earning itself a place in the Guinness Book of Records).
> This dismal state of affairs has been reversed. In 1987, the 33 companies examined by NERA contributed £8,374 million to the exchequer. Net contributions have continued at a high level in each of the last eight years.