Communists propose confiscation of property to boost Russian economy


A group of Communist Party lawmakers is pushing for a nationalization drive in a bid to boost the Russian economy and strengthen national security.

In a draft document sent to the State Duma and published on the Russian parliament’s website on Wednesday, the group describes nationalization as a forced but compensated confiscation of private property. It says that turning assets over to the federal state would help meet public needs, increase the general effectiveness and social orientation of the national economy, and strengthen Russia’s national security and sovereignty.

The list of assets that would be subject to nationalization include land plots, mineral deposits, forests, natural bodies of water, and enterprises in strategically important branches of the economy, such as energy, transport and heavy industry.

Other grounds for forced nationalization include the threat of mass personnel layoffs in companies that control major parts of the economy in a city or a region, the bankruptcy of a strategically important enterprise, a monopoly position of a company, violations committed during privatization, and the potential threat of strategically important enterprises falling under foreign control.

The bill reads that nationalization would be applied to any form of private property, including shares in various companies.

 

source: https://www.rt.com/politics/418739-communists-draft-nationalization-bill-in/

Author: Rayan M

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