Little Gain from Budget Says P.M.T. Chairman
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THE partial reduction in vehicre licence duties only scratches at the surface of the bus industry's problem and this year it is likely to be worth little more than the additional liability for proflt tax; said Mr. Raymond W. Birch, chairman of the Potteries Motor Traction Co., . Ltd., at the company's annual meeting -last week.
Stability in fares and services could only be achieved, said Mr. Birch, by a "wholesale slash in the wickedly heavy tax on the industry's main raw material— oil fuel." Last year the company carried 128,500,000 passengers-8,000,000 less than in 1956, and only 600,000 more than in 1957 when there was a nine-day strike.
Other steps to he taken to meet current conditions included an order for 75 Leyland Atlantean 73-seaters and 10 coaches of advanced type. Experiments were continuing, with a high capacity double-deck bus with a turbocharged engine.
In 1958, P.M.T. acquired the share capital of Baxter (Hanley), Lfcl., and the concern operated by Mr. W. S. Rowbotham—two purchases which added 31 vehicles and premises to their assets. An associated company, North Western Road Car Co., Ltd., took over certain aspects of Wells Motor Services. Ltd., a P.M.T. subsidiary. The bulk of Wells services were being amalgamated with P.M.T. in the Biddulph area.
The directors recommended a final dividend of 5 per cent., making 10 per cent. for the yea.