§ 10. Mr. Duncan SmithTo ask the Secretary of State for Transport what progress he has made in the sale of bus companies outside London.
§ Mr. FreemanSeventeen of the original 53 local authority-owned bus companies outside London have been sold. I am pleased to be able to inform the House that interest in the sale of the remaining municipally-owned bus companies remains high.
§ Mr. Duncan SmithDoes my right hon. Friend agree that the sale of bus companies is good for employees—[HON. MEMBERS: "No!"] It is good for employees because it gives them the possibility to share in the ownership of their company, which is good Conservative policy. Despite all the nonsense spoken by the Opposition, Oxford is a good example of how things can go right when the principles are correctly put in place.
§ Mr. FreemanThe hon. Member for Kingston upon Hull, East (Mr. Prescott) is not inclined to suggest taking those bus companies back into public ownership because lie knows very well that privatisation has been a success among management and employees.