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Assetco

EDM number 2104 in 2010-12, proposed by Kate Hoey on 18/07/2011.
Categorised under the topic of Fire services.

That this House is deeply concerned by the imminent financial collapse of AssetCo, the company which holds the contract to lease and maintain fire appliances and other emergency equipment for London and Lincolnshire Fire Brigades; notes that AssetCo has debts of up to 140 million and market capitalization under 3 million; is alarmed by the prospect of the company's creditors stripping lucrative assets from fire stations in London and Lincolnshire; further notes that AssetCo's creditors include HM Revenue and Customs and HBOS, part of the Lloyds Banking Group in which the Government is the majority shareholder; further notes that potential investor Arcapita's most recent accounts report a $559 million loss; believes that the Government's localism policy will not satisfy public concern over the serious risks to public safety and public finance from the financial collapse of AssetCo contracts; and calls on the Government to ensure that London and Lincolnshire fire engine fleets are brought back into public ownership with immediate effect.

This motion has been signed by a total of 11 MPs.

MPDateConstituencyPartyType
Kate Hoey18/07/2011VauxhallLabourProposed
Nicholas Dakin18/07/2011ScunthorpeLabourSeconded
John McDonnell18/07/2011Hayes and HarlingtonLabourSeconded
Jeremy Corbyn18/07/2011Islington NorthLabourSeconded
Kelvin Hopkins18/07/2011Luton NorthLabourSeconded
Graham Stringer19/07/2011Blackley and BroughtonLabourSeconded
Dennis Skinner19/07/2011BolsoverLabourSigned
Martin Caton19/07/2011GowerLabourSigned
Alan Meale20/07/2011MansfieldLabourSigned
Jim Dobbin20/07/2011Heywood and MiddletonLabourSigned
Mike Hancock20/07/2011Portsmouth SouthLiberal DemocratSigned

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