When a publicly funded asset or piece of major infrastructure is privatized how is this offset to provide equity back to the public? Take a major public asset, let’s call it Sydney Harbor Bridge. This was designed, built and paid for with taxpayers money and then operated by the government for the people who funded it so they can use it. The government then wish to raise money do they privatize it by selling it to a private company for millions of dollars. The private company now charge a toll fee for everyone who now drives across it making millions of dollars and turning it into a good business. So now, how is the public reimbursed for the costs that their tax dollars were spent on? Given the public paid for it to be constructed and now pays to use it with a toll fee, do they get an equivalent tax cut or similar mechanism out of fairness? Seriously asking how this works, so serious answers only please.
In: Economics
The privatization is a scam where rich people have infiltrated to the political system convince everyone that privatization saves money. Then they purchase the property build with public money and monopolize it.
It happened with Finnish health care system and now with the electric grid.
“Instead of paying for cost of hiring doctors, nurses and the building maintenance, how about you pay for the cost of hiring doctors, nurses, the building maintenance and feed the endless maw of capital investors! Think of the savings!”
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