Government and the Nationalised Industries

Abstract

The pattern of relations between Government and the nationalised industries was clearly laid down in the Nationalisation Acts. Public Corporations were established by the Acts to take over the assets and liabilities of the industries covered by the Acts. These corporations were to be commercial concerns and not government departments. They were charged with certain responsibilities and functions. They would make such charges as would enable their revenues to meet their outgoings. This was not expected to be the case in every year — that would have been too rigid and drastic. So there is always a proviso that this obligation was spread over a period.