The ideology of privatization was introduced to Great Britain (UK) in 1984. This form of outsourcing was the beginning of the demise of the United Kingdom. Margaret Thatcher was the Prime Minister behind privatization and outsourcing in the United Kingdom back then. Margaret Thatcher was a staunch proponent of free market trade economics and fairly reduced government intervention as she was a member of the Conservative Party. At that, Margaret Thatcher had privatized the publicly owned British Telecom. The era of the 1980s were as era of unemployment, racial tension, outsourcing, downfall, and of course privatization. Many people were unemployed at that time. The Brighton Riots were fresh in peoples minds at that time as well.
In 1986, nationalized industries represented 10% of the British Economy. These jobs were being sent offshore. Jobs that are needed are the jobs that are never coming back. Privatization is another word for "outsourcing"! Watch out for that!
2010s era is where privatization has destroyed Great Britain and the United Kingdom. Right now the manufacturing sector of the United Kingdom is below 10%. Privatization along with outsourcing killed many jobs. Privatization has destroyed many great jobs people once admired. These are the jobs that are never coming back.
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