9 ). ▁After ▁ 1 9 7 9 , ▁council ▁house ▁ten ants ▁in ▁the ▁UK ▁were ▁given ▁the ▁right ▁to ▁buy ▁their ▁homes ▁( at ▁a ▁heavily ▁disc ount ed ▁rate ). ▁One ▁million ▁purchased ▁their ▁resid ences ▁by ▁ 1 9 8 6 . ▁ ▁Such ▁efforts ▁cul min ated ▁in ▁ 1 9 9 3 ▁when ▁British ▁Rail ▁was ▁priv at ized ▁under ▁Th atch er ' s ▁successor , ▁John ▁Major . ▁British ▁Rail ▁had ▁been ▁formed ▁by ▁prior ▁national ization ▁of ▁private ▁rail ▁companies . ▁The ▁priv at ization ▁was ▁controvers ial , ▁and ▁the ▁its ▁impact ▁is ▁still ▁deb ated ▁today , ▁as ▁dou bling ▁of ▁passenger ▁numbers ▁and ▁invest ment ▁was ▁bal anced ▁by ▁an ▁increase ▁in ▁rail ▁subs id y . ▁ ▁Priv at ization ▁in ▁Latin ▁America ▁fl our ished ▁in ▁the ▁ 1 9 8 0 s ▁and ▁ 1 9 9 0 s ▁as ▁a ▁result ▁of ▁a ▁Western ▁liberal ▁economic ▁policy . ▁Comp an ies ▁providing ▁public ▁services ▁such ▁as ▁water ▁management , ▁transport ation , ▁and ▁tele communic ation ▁were ▁rapidly ▁sold ▁off ▁to ▁the ▁private ▁sector . ▁In ▁the ▁ 1 9 9 0 s , ▁priv at ization ▁re venue ▁from ▁ 1 8 ▁Latin ▁American ▁countries ▁tot aled ▁ 6 % ▁of ▁gross ▁domestic ▁product . ▁Private ▁invest ment ▁in ▁infrastr ucture ▁from ▁ 1 9 9 0 ▁and ▁ 2 0 0 1 ▁reached ▁$ 3 6 0 . 5 ▁billion , ▁$ 1 5 0