Abstract
Uneasiness about the financial aspects of the relationship between the nationalised industries and the government has existed ever since the industries were brought into public ownership.1 Current preoccupations about cash constraints and the impact of other financial problems are therefore no more than the latest chapter in the long-running saga of complaints, charges and counter-charges. But these preoccupations are only one manifestion of much wider problems in the relationship between the industries and the government of the kind outlined in other chapters (particularly those by Byatt, Grieve Smith, Harrison and Richardson) and which have been the subject of debate for many years. There have been no less than five major attempts in the last sixteen years to resolve these problems.2 The continuingly high level of voluble dissatisfaction about the relationship indicates that none has laid the matter to rest.
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Notes and References
Sir N. Chester, The Nationalisation of British Industry (HMSO, 1975).
See HM Government, Nationalised Industries: A Review of Economic and Financial Objectives Cmnd 3437 (HMSO, 1967).
National Economic Development Office, A Study of the UK Nationalised Industries: Their Role in the Economy and Control in the Future (NEDO, 1976).
HM Government, The Nationalised Industries Cmnd 7131 (HMSO, 1978).
HM Government, Cash Limits Cmnd 6440 (HMSO, 1976).
As a forceful example, see Sir W. Barlow, ‘The Problems of Managing Nationalised Industries’, in Allies or Adversaries (RIPA, 1981).
For example, D. Heald, ‘The Economic and Financial Control of UK Nationalised Industries’, Economic Journal, 90 (June 1980).
and D. Heald and D. Steel, ‘Nationalised Industries: The Search for Control’, Public Money, June 1981.
Hundred Group of Chartered Accountants, The Financing of State-Owned Industries (1982).
See R. Pryke, The Nationalised Industries. Policies and Performance Since 1968 (Oxford: Martin Robertson, 1981).
Sir A. Knight. Knight ‘The Control of Nationalised Industries’, Political Quarterly, vol. 53, no. 1. (January, 1982).
HM Treasury, Public Expenditure Adjustments Economic Progress Report no. 159 (August 1983).
See H. Heclo and A. Wildaysky, The Private Government of Public Money, 2nd edn (London: Macmillan, 1981).
J. Barnett, Inside the Treasury (London: Andre Deutsch, 1982).
For a detailed analysis, see A. Likierman, ‘Monitoring the Credibility of Cash Limits’, Fiscal Studies, vol. 4, no. 1 (April 1983).
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© 1984 John Grieve Smith and Economic and Social Research Council
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Likierman, A. (1984). The Impact of Financial Constraints. In: Smith, J.G. (eds) Strategic Planning in Nationalised Industries. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07114-2_5
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DOI: https://doi.org/10.1007/978-1-349-07114-2_5
Publisher Name: Palgrave Macmillan, London
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