Government selling off our ports.

Posted: December 8, 2009 in Broken Britain

Even though UK is on terrorist alert and 1,000’s of illegals pour into our country the Prime Minister’s office has announced that our ports may be up for sale to the highest bidder.

IlieThe Dover Harbour Board has agreed in principle to submit a plan to the Department for Transport for possible privatisation in the new year. Will this latest sell-off see our ports run by foreigners as overseas companies appear to own an ever increasing amount of our services and industry? The deal for Dover could be worth up to £500 million.

As well as the Port of Dover, the Port of Tyne, Harwich, Milford Haven, Port of Poole and Shoreham are on the list of possible sell-offs.

Acting on behalf of Dover Harbour Board, the financial conglomerate Rothschild is seeking a buyer.

To avoid opposition from port workers and trade unions a share ownership trust (ESOT) for the 350 DHB employees will be set up so they can become minor shareholders in the new company. Minor being the operative word.

The decision to go for privatisation is a major change for members of Dover Harbour Board who, until now, have seen in it no benefit for the port and its stakeholders. The change of direction is seen as a pre-emptive heading off of a “fire sale” of the trust port by the government, desperate for cash to help pay off the huge national debt. Under the proposed selective scheme the State will still get a major share of the price paid by the purchaser, possibly in excess of £100 million.

James I provided the October 1606 charter under which the trust port now operates.

The Port of Dover is a highly profitable business. Published details, for 2008, show that profits of around £25 million was made on revenue of around £61 million.

The plans to sell the port would appear to be well-advanced, according to a written reply by transport minister Paul Clark and published in Hansard on December 3.

At the last election a solemn pledge was given by Labour that they would not sell the port. In fact, it became the corner stone of their campaign in the Dover & Deal constituency.

FOOD FOR THOUGHT

Closely guarded plans have been approved by French administrative judges for a new structure close to the Calais ferry port for illegal immigrants. Supposing a French company owned our ports could they set up such a camp on our side of the Channel within Dover port boundaries?

BY THE WAY

Although up to 300,000 people could have wrongly been granted visas to enter Britain each year because of errors in dealing with applications, UK Border Agency have given 29 civil servants an average of £10,000 each in financial rewards last year.

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