§ Mr. Ron Brown
To ask the Secretary of State for Transport if he has received recent representations from the Forth ports authority about the privatisation of Leith docks, including a management buy-out; and if he will make a statement.
§ Mr. McLoughlin
On 8 January the Forth ports authority submitted under the provisions of section 9 of the Ports Act 1991 for confirmation by my right hon. and learned Friend a scheme for the transfer of their undertaking to a successor company formed under section 1 of the Act. The authority has announced its intention to sell its undertaking by means of a flotation, and I understand that it intends that the flotation should include provision for a substantial shareholding by management and employers.
My right hon. and learned Friend and I very much welcome this decision by the largest trust port in Scotland to seek privatisation under the Ports Act.