On 30/10/06, Nick Atty <[EMAIL PROTECTED]> wrote:
>
>
> Returning to the idea of funding the waterways through property, what
> happens if there is a property value slump or living by canals suddenly
> becomes unfashionable? Or what happens if the management decide to do
> something that sounds very reasonable - albeit slightly risky - and end
> up getting badly burned? Suddenly we are back in the position of no
> money for the waterways.
> --
Nick, this is my major concern and the reason I disagree with those who who
so blindly support BW's policy of 'self sufficiency.' To be fair to BW, they
haven't actually been 'selling the silver' in the sense of using capital
assets to fund current expenditure. What they have been doing is selling
heritage properties like the Tontine in Stourport, (which I believe should
have stayed in private hands with public access to at least part of the
building guaranteed) and using the proceeds to invest in places like
Docklands (which, is hardly a place in need of much regeneration)
Your point about house prices is well made. No-one could have failed to make
a substantial killing on property these last few years. But as they say in
the advertisements, investments can go down as well as up...
BW are no more property investment specialists in the 21st century than they
were hire boat experts in the 20th when they made such a cod of that, losing
substantial money when the bottom dropped out of the market. Besides, on a
general point, I do not believe it is the place of public corporations to do
what can be done better and more efficiently by the private sector.
I do not want the heritage of my country dependant on the vagaries of the
market. It is the job of government to help preserve it, and we should all
expect to have to pay for that, whether we take advantage of the facilities
the waterways offer or not.
If this was the thrust of BW's policy I would support them 100 per cent.
Steve
[Non-text portions of this message have been removed]
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