The UK government still upholds the idea that selfregulating markets represent the ideal economic model, despite two years of expansionary fiscal contraction mounting criticism not only from heterodox and feminist economists but also from the IMF, evidence that shows all the hallmarks of a depression with either very low or zero growth, a clear lack of effective demand, and, in complete contrast to their intentions and predictions, increases in government borrowing owing to falling tax revenues. … Explaining the rigid adherence to these policies and why the ideas of feminist and heterodox economists are overlooked is clearly important. (Perrons, 2012)

So public ownership of the big five is essential. Even if the government bought all the shares at market price it would cost only a one-off 3% of GDP (not that full compensation to shareholders is merited). That could easily be financed by the issuance of government bonds and serviced easily with the revenues and profits from the big five. The top executives of these banks would then be paid civil service salaries and have no shares – bank workers and trade unionists would sit on the boards to ensure accountability. Public ownership does not mean more bureaucracy – on the contrary, it means more democracy. (Roberts, 2018: 3)