Public Sector Union Proposes Private Equity Survival Deal

Secret documents leaked from the Public and Commercial Services Union show that the militant public sector union is in crisis and flogging off their assets to the private equity fund Brockton Capital. Long overdue trade union reforms are finally working. The controversial “check off” process has been clamped down on by Francis Maude, and the civil service has been reduced by 21% since 2010, leaving the PCS with a massive funding crisis:

 “The union faces an exceptional, urgent situation. The NEC noted at its meeting in December that the union will experience a significant drop in subscription income in the coming period due to the combined effects of check off removal and membership loss due to job cuts in the civil service…”

Mark Serwotka and his NEC have come up with a genius solution: privatisation of their Clapham Junction HQ:

“Several bids were received of around £20 million. A sum of this order would provide would form the platform on which a reconfiguration of our operations can be made in the medium term to adjust the union to a new, ongoing, lower level of income.

 The NEC authorised the Senior Officers Committee to agree the sale of the Clapham Junction building if a suitable deal can be reached. A bid from Brockton Capital was received which was the highest at £25 million and also allows a year of rent free occupation of the building.

Altogether, the value of this bid is at least £2.5 million more than the next highest. Brockton plan a conversion of the site into a new office building rather than a residential scheme which the other bidders were planning.”

Having spent decades striking against privatisation and cuts, the PCS have privatised and cut…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Jeremy Corbyn on Big Ben Bong Ban

“… if we have to miss Big Ben in reality for a while so that work can be done, well, that’s something we have to go through. It’s not a national disaster or catastrophe.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Fears For Chapman Fears For Chapman
Why Transition Must Be Short Why Transition Must Be Short
PICTURES: Seumas’ Temper Tantrum PICTURES: Seumas’ Temper Tantrum
Don’t Believe ‘Victory For Hammond’ Spin Don’t Believe ‘Victory For Hammond’ Spin
Friday Caption Contest: Commando Chappers Edition Friday Caption Contest: Commando Chappers Edition
Angry Adonis Wanted ‘Office for Students’ Job Angry Adonis Wanted ‘Office for Students’ Job
Listen: Rees-Mogg vs Chapman Listen: Rees-Mogg vs Chapman
City Envoy Slams “Bewildering” Brussels City Envoy Slams “Bewildering” Brussels
Labour Pledged to Sell-Off Public Land Labour Pledged to Sell-Off Public Land
Corbyn’s ‘Local GPs’ Visit Staged by Labour Spin Doctor Corbyn’s ‘Local GPs’ Visit Staged by Labour Spin Doctor
Joly-Gone: Maugham Deletes Centre Party Plan Joly-Gone: Maugham Deletes Centre Party Plan
Milne: North Korea ‘Rational’ to Have Nukes Milne: North Korea ‘Rational’ to Have Nukes
LibDem Chief Exec Out LibDem Chief Exec Out
Jones Ditches Momentum For Radio Show Jones Ditches Momentum For Radio Show
Chlorine Chicken? EU Mired in Food Safety Scandals Chlorine Chicken? EU Mired in Food Safety Scandals
Juncker’s Junkets: Commissioners’ €500,000 Expenses Juncker’s Junkets: Commissioners’ €500,000 Expenses
Owen Jones in for Nawaz on LBC Owen Jones in for Nawaz on LBC
Watch: Maduro’s Thugs Executing Opponents Watch: Maduro’s Thugs Executing Opponents
Inside Baroness Scotland’s Home – But No Pictures Allowed Inside Baroness Scotland’s Home – But No Pictures Allowed