§ 15. Mr. Stephen Rossasked the Secretary of State for Transport what assurances he can give that the current employees of Sealink will be given the opportunity to acquire a stake in the equity of their company.
§ Mr. RidleyI welcome the British Railways Board's assurance that in assessing offers for Sealink it will take into account the ability and willingness of prospective purchasers to give employees an opportunity to participate in a share ownership scheme.
§ Mr. RossWill the Secretary of State confirm that the ultimate decision is his? Will he follow the example set by the Government in relation to the National Freight Company and British Telecom, which allows employees a minimum of £70 or £75 worth of shares? Does he agree that the best way forward is to ensure that the work force is involved and that, if Sealink is to be privatised, employees should have at least a 20 per cent. stake in the equity?
§ Mr. RidleyI share the hon. Gentleman's view. That is why I asked British Rail to include in the letter inviting bids the following:
In determining the acceptability of offers the British Railways Board will have regard to…a prospective purchaser's ability and willingness to extend to Sealink UK's employees an opportunity to participate in a share ownership scheme.We must await the bids.