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STRONG TALK FROM THC CHIEFS TO GOVERNMENT
Page 48
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E HOPE the development work we have done in the THC will not be destroyed by legislation based on the forthcoming Transport White Paper" said Sir Philip Warter on Wednesday. As chairman of the Transport Holding Company, he was introducing the annual report at a press conference in London and he stressed that pending fresh legislation the THC stood by the terms of the 1962 Act. "If proposals are made which appear to prejudice our position we shall have a lot to say," he said.
Sir Philip said it was sometimes held that the Holding Company had a bottomless purse to acquire undertakings at will. This was not so. The 1962 Act specified a limit of £30m., of which £10m. was allocated for working capital, and £10m. had been borrowed on commercial terms for acquisitions. A new act would be needed to increase the money available for expansion. The money now available was by no means excessive for the size of the organization. Though consulted on some points. Sir Philip said, the THC did not know the details of the transport White Paper.
Sir Reginald Wilson said there was "a drift towards subsidy" in public policy but in transport this was a "damn dangerous development". In particular areas it might be essential but the sources of the subsidy were very relevant. Asked whether BRS Parcels Ltd., who were profitable, could not readily take over rail parcels work which lost money, Sir Reginald said a lot of people would lose a great deal of sleep over this issue in the next two years.
"Wor
On the question of possible rates increases by THC road haulage concerns, Sir Reginald said the separate companies would be talking seriously to their customers on this point. It was a question of the standard of service required.
Asked about the staffing of the THC's development section, Sir Reginald said it specialized in fields such as hovercraft, economic research, road cost research, guided buses and the like—broadly things others would not or did not do. "The technical press do such a first class job in drawing attention to worldwide transport developments that we have no intention of attempting to duplicate that valuable function by employing highly paid research specialists who would keep us in the picture in relation to world transport developments", said Sir Reginald.