Bus and Tramlink (Privatisation) Bill 2005, Transport Commitee

[King James I]

Section 1: Shares
When privatised, 90 per cent of shares (of the bus and Tramlink companies) will be available to purchase, the reamining 10 per cent will remain in government hands. These shares will in the St. George Stock Exchange for any investors to buy into. The remaining 10% will be sold off in the manor described in Section 2.

Section 2: Timetable
Investors will be allowed to buy into the shares the day after it is passed by parliament and given Royal Assent. The final 10 per cent in government hands will be able to be sold off when the Chancellor of the Exchequer feels fit.

Section 3: Taxes
£1 billion will still be given as a government grant to the company when it is privatised, and will conitnue until 1 November 2005.

Intrduction: Friday 12 August 2005
Vote on changes: Sunday 14 August 2005

Sitting members of the committee:
Presiding: Baron Mann, Lord Chancellor
Conservative: Georgie, Transport Secretary
Labour: No member chosen (default rep.: Rob McCall)
Liberal: Valentine 'liberal' Faber, Transport spoeksman

[Baron Mann]

I think we should change section 3 to...


Every month a government grant of £330 million shall be payed to the privatised company, the last payment being for November 2005.