UK Prime Minister to announce plans for nationalisation of strategic companies

Moscow (ANTARA) - UK Prime Minister Andy Burnham will announce the British government’s plan to nationalise a number of strategic companies in the country on 1 September, according to a report by The Guardian on Monday, citing sources familiar with the matter.

The British Parliament is set to reconvene on Tuesday following the summer recess.

On the same day, Burnham will deliver his first speech to the House of Commons since succeeding Keir Starmer as Prime Minister.

According to the report, Burnham will reaffirm his intention to proceed with the nationalisation of several strategic companies, stating to the House of Commons that such a move is the only way to drive economic growth.

His Cabinet is currently preparing legislation that would facilitate the transfer of Thames Water, the UK’s largest water utility company, as well as several other financially distressed utility firms, into state ownership, according to The Guardian.

The British Prime Minister will also announce plans to nationalise several urban bus routes across various regions of the UK, the report added.