LVP urges Government to be ready to buy Steam Packet

Thu, 29 Dec 2011

The Liberal Vannin Party is calling for Government to buy the Steam Packet Company.

The Party wants the Government to have a contingency plan ready should the ferry operator be put up for sale.

The company is currently owned by a group of banks, primarily Banco Espirito Santo of Portugal.

Liberal Vannin is asking for the Government to form a new company to own the Steam Packet should it become available at a realistic price.

The party would then want shares to be sold to Manx residents, preventing the operator ever being owned by an off Island company again.