Above The Law 2 | Chiltern Debt Management

Will I ever get used to the double standards of this Government?

The Competition Commission has ordered BAA to sell 3 of their 7 airports as their present holdings have caused a complete ‘absence of competition’ and are therefore detrimental to passengers and airlines in Scotland and the South East of England. BAA have been told that they must sell Gatwick, then Stansted. They must then sell either Edinburgh or Glasgow. Hmmm, how easy will it be to sell 3 airports with the present economic climate I wonder? BAA have 2 months in which to launch an appeal against the decision.

‘So what?’ you may be thinking, ‘that is what the Competition Commission is there for!’ Absolutely, whatever you may think about the BAA, if they are a monopoly it is not permissible, but I would like to draw a parallel here. Remember the Lloyds TSB/HBOS saga?

BAA, owned by Ferrovial of Spain, is a going concern. OK, profits dropped by 18.4% from 2007 to 2008 but it still registered a profit for 2008 of £582m before tax and interest. However, it is considered a monopoly and therefore not allowed.

On the other hand we have Lloyds TSB/HBOS, a glaring monopoly as reported by the Competition Commission, but their decision was overruled by Gordon Brown. And what do we end up with? A financial black hole into which billions of pounds of taxpayers money are being pumped!

So there you have it, a successful business classed as a monopoly is not allowed but a glaringly inefficient one is and we have to pay for it!

With this sort of ‘leadership’ I’m sorry to say that further businesses folding, with the resultant job losses and debt problems, are almost inevitable.

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