Memorandum and Articles of Association of the Successor Company

Part of New Clause 12 – in the House of Commons at 4:27 pm on 25 March 1980.

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Photo of John Prescott John Prescott , Kingston upon Hull East 4:27, 25 March 1980

The right hon. Gentleman does not have to lecture the corporation about that. It lost 50 per cent. of its employees over 10 years. Nationalised industries, including the corporation, have been dissatisfied with the financial obligations of nationalised industries. They have argued for equity financing. That is what the corporation was interested in, and that is what the National Bus Company wanted. It was wanted, too, by British Rail. If the right hon. Gentleman addressed himself to that problem, he would be a greater friend of the nationalised industries.