§ Mr. Les Huckfieldasked the Secretary of State for Transport whether he will make a statement about the mechanism and detailed timetable for his plans to permit a large private shareholding in the British Transport Docks Board; and whether it is still his intention to proceed with this on the basis of a continuing public majority shareholding.
§ Mr. EyreThe Government's declared intention is to offer for sale 49 per cent. of the shares in a holding company of which the renamed British Transport Docks Board will be a wholly-owned subsidiary. A small proportion of the remaining shares will be offered free to employees under an employee share scheme. On timing I have nothing to add to my right hon. Friend's answer to the right hon. Member for Cardiff, South-East (Mr. Callaghan) on 8 December.—[Vol. 33, c.506.]