ABSTRACT
Just as the 1940s decade is remembered as the era of nationalisation, the 1980s will be remembered as the decade of privatisation. It therefore seems timely to review the achievements of the privatisation programme. The programme has had two main strands: (i) the sale of state assets (denationalisation); and (ii) the introduction of competition into areas previously monopolised by state-owned suppliers (liberalisation). It is, however, the former programme which has captured the most attention and which is the primary focus of this chapter.
