Privatisation is a new word which expresses a revolution taking place in Britain. The Government has already raised about E3,000 million by selling off nationalised industries, and city merchant bankers and stockbrokers have reaped tens of millions in fees and commissions.
The flotation of British Telecom is imminent. This is bigger than all previous privatisations put together and indeed it will be the biggest ever sale of shares anywhere in the world. As political arguments rage about state ownership versus private enterprise and whether taxpayers have got a fair price for national assets,
John Roberts has been finding out what happens to a public service when it becomes a profit-motivated company; what happens when the civil servant has to work hand in glove with city dealers and financiers. And how they are trying to recruit a million new investors to the stock market. Written and narrated by JOHN ROBERTS
Producer PETER DAY