Stagecoach And Burnley And Pendle Transport

EDM number 333 in 1995-96, proposed by Gordon Prentice on 23/01/1996.

That this House notes that the Policy Committee of Liberal-controlled Pendle Borough Council meets on 24th January to consider a report recommending the sale for ú2 million of the council's 50 per cent stake in Burnley and Pendle Transport, a bus company jointly owned with Burnley Council, to the predatory company Stagecoach which has a significant presence already in Lancashire and the North West; notes that Burnley and Pendle Transport makes a healthy profit year on year and pays dividends to both councils; further notes that the council company's pre-tax profit margin in 1994 was higher than 14 out of the 20 remaining municipal bus companies and that it is an efficient and effective operation; condemns the cavalier disregard by the Liberals of the huge petition of 13,000 local people opposed to the sale; fears that an acquisition by Stagecoach will open the way for further predatory bids for the remaining municipal bus companies in East Lancashire; and believes the issue should be referred to the Monopolies and Mergers Commission on the grounds that the purchase by Stagecoach would not promote competition, would reduce services and would be against the public interest.

This motion has been signed by a total of 35 MPs.