If the leaking of the Labour Party manifesto was supposed to embarrass the Labour Party, it spectacularly backfired as the plans to renationalise the rail, water and utility companies went down surprisingly well with the public.
During the 80s and 90s, the Conservative Party went on a privatisation spree with the mantra that market competition in the private sector was a more efficient way to provide services provided by the Government and allows for a better price and service for us.
In practise, however, it increased costs, lowered the quality of services and led to rising unemployment because the simple logic tells us that it is impossible for the private sector to deliver the same service for less and still make a profit.
Private companies exist to make a profit for their investors even if they are providing a service to the public, and the only way to increase profit is to reduce the money they pay out (wages) or increase the money they bring in (prices), both of which comes at a huge cost, financial and personal, to the public.
A recent example was the great sell off of the Royal Mail which made a profit of £403 million for the Government in 2013, while in 2014 the profit went directly into someones bank account instead.
A week after the privatisation went through, the new owners announced the price of stamps would rise as 'the price didn't go up last year' proving they couldn't do the same job with the same number of people at the same price.
The mantra remains that Privatisation will bring down price and increase service but in reality the service falls through the floor and the price goes up. Take a look at your next electric, water, gas, phone bill or train ticket and that will testify that it doesn't bring greater efficiency, benefits to the customer, bring the best prices for the consumer nor improve the service.
Essentially, it denies the Government much needed tens of billions in tough times so there you go, that's why Labour's nationalisation plans have struck a chord with the country.