I don't understand how that leads to your conclusion. If it's because of the Tory philosophy that the state is bad, surely the real aim would have been to reduce the power of the state?

The reason I'm asking is because I think people tend to be overly cynical and won't accept the possibility that people disagree with them honestly, finding it easier to believe that they disagree dishonestly. To me it seems perfectly plausible that Tories thought they could reduce the power of the state, do something good for ordinary people, and expand their voting base, without realising/believing that this approach would lead to many (but not most) of those assets essentially becoming investments.