On Capitalist Socialism

Recently our Labour (read socialist) government produced an unprecedented yearly increase in housing prices in the history of our country. Their other changes in legislation also increased prices in other areas. I was wondering how it was possible. They always claimed to be on the side of the poor, against those greedy capitalists. So how come that the outcome of their work meant worse conditions for the poor?

I was born in the country and era of Communist Socialism. The country was controlled by the communist party, the regime was called socialism – a so-called step towards communism. The government was creating monopolies and controlling prices. A lack and a low quality of products/services was the result, even though the prices were relatively acceptable.

The regime under the Labour government could be called Capitalist Socialism. The government creates monopolies, yet allows them to set their own prices. What is the result? Poor quality of products/services at exceptionally high prices.

I wonder where the comrades made a mistake.