Transit Privatisation
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Transit privatization is the process of shifting the provider of
public transportation Public transport (also known as public transit, mass transit, or simply transit) are forms of transport available to the general public. It typically uses a fixed schedule, route and charges a fixed fare. There is no rigid definition of whi ...
from
government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), execu ...
s to
privately held companies A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the company's stock i ...
. It became common during the 1980s and 1990s as a result of rising costs and bureaucracy, and declines in service quality. Privatization efforts have had mixed results, typically achieving the goal of reducing public debt and expenditure, however often resulting in reduced service and financial issues.


References


See also

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Deregulation Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a ...
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Staggers Rail Act The Staggers Rail Act of 1980 is a United States federal law that deregulated the American railroad industry to a significant extent, and it replaced the regulatory structure that had existed since the Interstate Commerce Act of 1887. Backgrou ...
(act that deregulated rail in the US) *
Privatisation of British Rail The privatisation of British Rail was the process by which ownership and operation of the Rail transport in Great Britain, railways of Great Britain passed from government control into private hands. Begun in 1994, the process was largely compl ...
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Bus deregulation in Great Britain Bus deregulation in Great Britain involved the abolition of Road Service Licensing for bus services outside of Greater London. It began in 1980 with long-distance bus services and was extended to local bus services in 1986 under the Transport ...
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Airline deregulation Airline deregulation is the process of removing government-imposed entry and price restrictions on airlines affecting, in particular, the carriers permitted to serve specific routes. In the United States, the term usually applies to the Airline D ...
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Railway nationalisation Railway nationalisation is the act of taking rail transport assets into public ownership. Several countries have at different times nationalised part or all of their railway system. More recently, the international trend has been towards privat ...
{{Transport-stub Economics of regulation Privatization