Heathrow, airlines, Eurostar…. they all look great until the snow arrives… there is a common thread… private companies report to their shareholders and Board of Directors (paid bonuses in shares which they therefore want going up)…
If BAA is owned by Ferrovial (a Spanish company) then the situation this weekend resulted by decisions made by far away Directors interested in one thing: profit.
They have no remit to worry about the wider economic impact of hundreds of thousands of people being stranded or the social and emotional stress on people.
The toothless regulators will hope this all goes away, as the snow melts away.
They should instead be slapping on a massive fine on BAA and their bosses.
It should be easy to cost by economists. £200 million?
. That hapless Minister of Transport is just throwing up his hands in the air. He has a one-point plan: to commission a study on whether the weather has changed and if we should prepare for winters such as this as normal events.
Well, is that the extent of government?
Just like with bankers bonuses, the government (and it would have been no different if it were New Labour Alan Johnson) just offers empathy with us….. and sits on its hands.
Privatisation means strategic decisions on infrastructure are taken by people who are not elected and often far away.
Green policy is for nationalisation of such vital airports, railways and ports. This weekend vindicates this belief. It makes sense.
Where’s the press release?