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The Irish Government is considering privatisation - Leaving Cert Economics - Question 5 - 2012
Question 5
The Irish Government is considering privatisation. The EU / IMF want a significant part of the revenues received to be used to reduce Ireland's National Debt. Explai... show full transcript
Worked Solution & Example Answer:The Irish Government is considering privatisation - Leaving Cert Economics - Question 5 - 2012
Step 1
Explain the term privatisation
Answer
Privatisation refers to the process of transferring ownership of a public sector entity or service to private individuals or organizations. This usually involves the sale of state-owned enterprises to private investors. The underlying aim of privatisation is to increase efficiency, reduce public sector burdens, and generate revenue that can be utilized to reduce the national debt.