Early day motion tabled by primary sponsor Nicholas Brown (Labour), on Tuesday, 10 May 1994, in the House of Commons. It is signed by 53 members in total.

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GO-AHEAD - FLOTATION

That this House notes that the Go-Ahead group, a former public company running transport services in the North and bought out, principally by three senior managers for ??2.9 million in 1987, has reached a value of over ??40 million on flotation; considers the resultant huge increase in the personal wealth of just three men, compared with the deterioration in the wages and conditions of the workforce responsible for the success of the company, to be shameful but not untypical of the results of privatisation policy; further considers the comments of directors regarding the opportunities for employees to purchase shares 'on no more favourable terms than any other investor' to be a sop rather than an ESOP; and regards the minimal improvements in some services at the expense of others, when compared with increases in congestion, pollution and fares, to be small compensation to the travelling public and a prime example of the principal objectives of privatisation, which are to enrich the few at the expense of the many.

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Secondary information

Type

Early day motion

Reference

1206 

Session

1993-94

Subjects

Private sector Privatisation Transport Shares Go Ahead Group

Link

View this Early day motion on www.parliament.uk