The privatization and liberalization of the UK electricity industry is the most important and influential reform within the worldwide electricity sector to have occurred in the last half century. Competition was introduced to large parts of the industry, the industry was transferred from state ownership into the hands of private investors, and a new system of independent regulation was established, presided over by a new regulator, the Director General of Electricity Supply (DGES), who presides over the Office of Electricity Regulation (OFFER). The basic principles of the reform are:
- Seperation of functions – into generation, transmission, distribution, and supply.
- Regulation of monopoly elements (transmission and distribution).
- Competition in generation and supply.
- Transitional arrangements (including support for nuclear generation).
This report outlines the results of these changes.
This symposium was constructed to discuss the debate surrounding feeder-reliever airports, and potential parameters for a solution.
Within Captive Capital, Bracewell-Milnes discusses the negative consequences of excessive capital gains tax in the UK, and puts forward his argument for a better alternative to the current tax system. [gview file="http://www.adamsmith.org/wp-content/uploads/2015/09/20150713142625.pdf"]
This report by David Soskin discusses the issues and solutions surrounding nursery education within the UK. He proposed a number of reforms, which he argues will improve the provision of pre-school education, such as a new independent inspectorate, removing local authorities from the provision of pre school education, removing bureaucratic controls and planning regulations, and setting up a targeted voucher system, so parents have more flexibility to chose where to send their children.
In 'The Fortune Account', Dr Eamonn Butler and Dr Madsen Pirie argue that individuals should be able to opt out of the state welfare system into an individual, funded and privately managed 'Fortune Account' which will provide lifetime insurance and basic pension benefits. This will allow people to accumulate savings when young, fit and in work, in order to fund their needs in retirement or when unemployed, sick, or disabled.
Read the whole paper here.