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Sefton. Economic Policy Review Committee


John Wright
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The report of the above select committee will be published to members of Tynwald today

 

Prediction

 

No conflict by AG who was sidelined throughout

 

No old boys support network

 

Total confusion in Government as to what power they had to support and a probable lack of statutory powers to do what was done

 

That the whole business support legislation needs updating and broadening

 

And that the directors other than G Ferguson Lacey share the blame for not reigning him in and controlling his feeding frenzy of expansion using borrowed money

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No I was just agreeing with your précis !

 

I would have said it will contain phrases such as :

 

Commercially sensitive

Preservation of many jobs

Fully secured on Middelmarch site

No conflicts of interest

Sound investment for the taxpayers

Had to act quickly

 

etc !

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No I was just agreeing with your précis !

 

I would have said it will contain phrases such as :

 

Commercially sensitive

Preservation of many jobs

Fully secured on Middelmarch site

No conflicts of interest

Sound investment for the taxpayers

Had to act quickly

 

etc !

 

And that great favourite:-

 

"Last chance saloon..."

 

TBT.

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The conclusions (page 34) are interesting, hardly surprising to those who have seen Shimmin in action:

 

We are surprised that Minister Shimmin was still vague about the extent of his powers in relation to such an important decision.We gained the impression that he would have made the decision whatever the law provided for.

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  1. However, as we have shown, the Government acted in a manner which stretched its powers to the limit – and, we think, beyond.

Hmmmm !!!!!!!!

 

Well they did have a difficult decision to make. Were the Sefton Group to close who in their right mind would buy the assets?

 

Despite often comparing most of those involved to the Muppet Show I do think this was the right decision, albeit not taken professionally.

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