Quote Originally Posted by Muddy Retriever View Post
Had it been a state owned company, mistakes would just have been covered up, losses continued to accumulate and the Government would have kept throwing in more good money after bad. This is exactly what happened in this country in the 1970's with all the nationalised industries.

I appreciate that there are certain services that need to be managed by the state but to extend this to wider industry as seems to be becoming a popular view, would be total madness.

It happens now. It's called special measures.

Kings College Hospital Trust put in "Special Measures" just before Xmas.
NHS Improvement said it had agreed with the King's board earlier this year a budget deficit of £38m for 2017-18.
In late October, the body said, the trust formally worsened this prediction to £70m, and last week re-forecast an end-year deficit of £92m.
"As an organisation, King's own prediction for its deficit has worsened by £54m, and more than doubled, within months," a statement said.

Imagine a state owned Carillion going in to Special Measures?