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Labor Vows to Upset Thatcher Program

September 09, 1986|From Reuters

LONDON — Britain's opposition Labor Party on Monday unveiled an ambitious 10-year plan to roll back Prime Minister Margaret Thatcher's denationalization program and restore state control over key industries.

Labor's trade spokesman John Smith told a news conference the program represents a reaffirmation of Labor's historic commitment to social ownership of the means of production.

Smith stressed Labor's determination to regain state control of key public utilities such as the national telephone company British Telecom, denationalized by Thatcher in 1984, and British Gas, due to be sold to the public later this year.

Labor would also set up a state-owned medicine company and a nationalized bank to finance and stimulate new enterprises.

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