| With all the talk at the moment of Bord Gais's imminent sale, I thought it would be a good idea to look over what Privatisation is and why the Irish Government are contemplating this action. Privatisation is the selling of state owned companies to the private sector, like the sale of Eircom in 1999. Advantages of Privatisation |
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- Cash from the Sale of the company (€1 to €1.4 billion for the sale of Bord Gais)
- The Private company will be more efficient as they are looking to maximise profit
- The state don't need to waster time or money looking after the company
- The public may be able to buy shares and part own the company
Disadvantages of Privatisation
- Loss of control of the company
- The Private sector only wants profit. (They may not look after rural projects)
- Jobs can be lost in the search for maximum profits
- A private monopoly is still a monopoly
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