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Walsall fights PTA plan with a 'sell-out'
Page 64
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THE Corporation transport committee at Walsall, Staffs., is planning to dispose of all its assets before the Government can take over municipal bus undertakings, it was revealed by the transport committee acting-chairman, Cllr. Philip Wood, this week.
"All that will be left when the takeover date arrives will be the Walsall bus fleet and garage", he said. We plan to avoid the blow of nationalization and leave our cupboard as bare as possible."
Already all non-operating assets such as 20 houses, the central bus station office block and five acres of recreational land have been transferred to the property committee and are being rented by the Transport Department.
A £170,000 reserve fund is being used to cover an operating loss on last year and to keep fares down, and buses are being bought on loan instead of out of revenue because the Ministry, taking possession through a proposed PTA, would also take over liabilities as well as assets.
"We would like to reduce reserves to just a few pence", said CHI.. Wood. "So far as Walsall is concerned, we intend that when our transport undertaking is taken over there will be no more than the bare essentials. So far as it is humanly possible, we are going to see that valuable assets are not taken over for nothing and then in some years' time being asked to pay large sums to get them back."