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
- 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