Nationalisation plans will bring more than howls of outrage | Nils Pratley

Are Corbyn and McDonnell ready for the onslaught if they don’t get the compensation right?

Jeremy Corbyn and John McDonnell have heard the howls of outrage from boardrooms and are unmoved. If Labour comes to power, the promised vast nationalisation programme would proceed at prices “to be decided by parliament”. Translation: compensation would be set below market prices.

How far below? The next rung down on the valuation ladder is the regulated asset base, as used by regulators when they calculate returns on capital, but Labour appears not to fancy that formula either.

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