Private sector keeps whole of NFC cake
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HE GOVERNMENT has firmly rejected a late bid by the pposition to allow 26 per cent of the National Freight orporation to stay under State control.
"The Government's object in -inging forward this legislation quite clear," said Under ecretary for the Environment i )rd Bellwin last week. "It is to ansfer control of the NFC 'ally into the private sector."
At the report stage in the ods of the Transport Bill he as speaking against an nendment by Labour spokesan Lord Mishcon who said its Jrpose was to see "that the overnment at least retain a inimum of 26 per cent of the iareholding within the private )mpany whose shares will be f-loaded onto the market".
The 26 per cent, Lord Mishin said, would give the Corpo tion a public entity which id done extremely well — gether with its 36,000 nployees, the security of lowing it would not be loosely, Jickly or irresponsibly luidated.
, Lord Mishcon described his attempt as "the last battle for the security of the corporation and the preservation at least of its life in its, new form".
The amendment was rejected by 58 votes to 18 after Lord Bellwin spoke against it.
"It would give Ministers sufficient voting power to frustrate .important changes that other shareholders might want to approve," Lord Bellwin said.
And Lord Bellwin remarked that he did not believe the security of corporation employees would be any less under the Government's own proposals.
When Transport Minister Norman Fowler moved second reading of the Bill in the Commons last November, he made it clear that if the Government retained an interest in the new company it would be a small one.
Employees of the corporation, which at present has ten per cent of the road haulage market and is the biggest single operator, would be given full opportunity to acquire shares, he said.