... work. Though, previously during the 1970's and early 1980's, the GDP, which was devoted to government spending, was much higher. This was until Privatisation occurred, when the Conservative governments under Maggie Thatcher developed the policy of Privatisation. Privatisation means the transfer of economic activity from the public sector to the private sector. The Financial secretary of the government Mr Nicholas Ridley, expressed the commitment of Privatisation when he said, "It must be right to press ahead with the transfer of ownership from state to private ownership of as many public sector businesses as possible...The introduction of competition must be linked to a transfer of ownership to private citizens and away from the State. Real public ownership - that is ownership by people - must be and is our ultimate goal (Treasury 1882). On this view the transfer of economic activity from the public to the private sector was made a desirable ...

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