The buy back of rail has been put in a British context in this article from the Guardian. Here are some excerpts:
“New Zealand has long had a record of being ahead of the political game. It was the first country in the world to accept women’s right to vote, in 1893. In the 1930s, it emerged as a pioneer of the modern welfare state. Fifty years later, in the 1980s, it was the first state to declare itself nuclear-free. Less creditably, during the same decade, New Zealand became host to the first social democratic government to embrace a free-market programme of wholesale privatisation, liberalisation and deregulation….
On Tuesday, Clark’s government renationalised the country’s railways and ferry services, privatised in the early 90s and subsequently run down and asset-stripped by the Australian owners. Launching the new, publicly owned KiwiRail, finance minister Michael Cullen declared that privatisation had “been a painful lesson for New Zealand”. Nor is this the first renationalisation by the Clark government, which took over Air New Zealand after it nearly collapsed in 2001 and has also built up a successful state-owned retail bank – named Kiwibank, needless to say….
…By making a stand for progressive common sense, New Zealand has at least helped break the spell that privatisation is somehow the natural order of things in the modern world.”