public ownership”. They then tell us that some industries cannot survive any longer unless they are taken into public ownership, allegedly to protect the public from the effects of their collapse. It all sounds so cosy, and so democratic. But is it true? No, of course it isn't. The moment ownership passes into the name of the public is the moment the public ceases to have any ownership or accountability, and often the moment when it ceases to get what it wants. But it is invariably the moment when the public starts to pay. Pays to take the industry over. Pays the losses by higher taxes. Pays for inefficiencies in higher prices." - Meaning and context.">
QuotesCosmos
Speech to Finchley Conservatives (31 January 1976)
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Socialists then shift the ground for taking industries into “public ownership”. They then tell us that some industries cannot survive any longer unless they are taken into public ownership, allegedly to protect the public from the effects of their collapse. It all sounds so cosy, and so democratic. But is it true? No, of course it isn't. The moment ownership passes into the name of the public is the moment the public ceases to have any ownership or accountability, and often the moment when it ceases to get what it wants. But it is invariably the moment when the public starts to pay. Pays to take the industry over. Pays the losses by higher taxes. Pays for inefficiencies in higher prices.

— Margaret Thatcher

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Socialists then shift the ground for taking industries into “public ownership”. They then tell us that some industries cannot survive any longer unless they are taken into public ownership, allegedly to protect the public from the effects of their collapse. It all sounds so cosy, and so democratic. But is it true? No, of course it isn't. The moment ownership passes into the name of the public is the moment the public ceases to have any ownership or accountability, and often the moment when it ceases to get what it wants. But it is invariably the moment when the public starts to pay. Pays to take the industry over. Pays the losses by higher taxes. Pays for inefficiencies in higher prices." in the context of "Speech to Finchley Conservatives (31 January 1976)" to mean that wisdom is timeless.

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Source: Wikiquote: "Margaret Thatcher" (Quotes, Leader of the Opposition) The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app

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#Margaret Thatcher#public#ownership#moment#pays#industries#ceases#higher#accountability#inefficiencies#socialists#democratic
Margaret Thatcher

About Margaret Thatcher

Margaret Hilda Thatcher, Baroness Thatcher (13 October 1925 – 8 April 2013) was a British politician and stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the first female British prime minister and the longest-serving British prime minister of the 20th century. As prime minister, she implemented neoliberal economic policies of deregulation and privatization that became known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style.