Last week in this column I addressed the subject of Labour’s plans to nationalise a chunk of BT, a policy idea that was met with pretty much universal derision. Nevertheless, as the election draws closer and Labour’s polling remains fairly solid, investors are considering what life might look like under a Corbyn government that would also renationalise many other natural monopolies such as rail, post, power and water, some of which form the bedrock of many income investors’ portfolios. As we report on page 9, National Grid and SSE have already moved some of their operations offshore to thwart any potential grab.
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