23. Mr. J. T. Priceasked the Minister of Transport what is the present estimated capital value of goodwill in the profit-earning British Road Services undertaking; and how he proposes to recover the value of this national asset when selling the vehicles and equipment.
§ Mr. Lennox-BoydThe total goodwill of British Road Services at 31st December, 1951, as shown by the Commission's Annual Accounts (statement V-4) was £33 million. As stated in the White Paper, the Government propose that the Commission should be compensated out of a levy on goods vehicles for any loss arising from the sale, including loss on the goodwill appropriate to the property sold.
Mr. PriceIs it not obvious that any competent body of Conservative directors of a business undertaking would never proceed on lines like these as, otherwise, they would be removed from office? Is it not high time that in view of the avalanche of public criticism by all responsible quarters the Minister should drop this crazy scheme of selling valuable public assets at knock down prices to speculators?
§ Mr. Lennox-BoydI would ask the hon. Gentleman to await the publication of the Bill which, if he approaches it fairly, will remove a great many of his doubts.