The post you are reporting:
The security issue does indeed appear to be a total red herring, can see no reason why it should be affected by privatisation.
QUOTE FROM BARRY: Would it not be wonderful if the Port were to really become largely owned, through the purchase of shares, mainly by us who live and work here in Dover and East Kent? UNQUOTE
It certainly would be wonderful, not to say extraordinary. As our financial expert, can you explain how this is remotely achievable?
Some figures from the DDC website:
Based on the 2001 Census the population of the District is 104,566. The population of the Dover urban area is 32,598 and that of Deal is 28,768. Of these, a total of 21,459 are disabled. Of the remainder, there are a higher than average number of elderly. Three of the wards in urban Dover are listed as economically deprived. Census information shows that there are 47,653 economically active people in the District. Of these, 39% of people are in full time employment, 13% in part time and 8% are self employed. There were 2,435 registered as unemployed in December 2009. The number of households is 44,314 of which 7,125 are claiming housing benefit, 9,219 claiming council tax benefit, and 2,283 are living in fuel poverty.
On this basis, there would appear to be about 40,000 full time equivalent economically active people in the district. Of these, what proportion would we say would be interested in investing in shares in the Port of Dover and would have the wherewithal to do so? Would one in four be a realistic guess? How much disposable income would we say they had that they wished to invest in shares? Would £1,000 each be realistic? This would make 10,000 people investing £1,000 each for a total of £10,000,000.
The estimated value of the Port of Dover is £500,000,000. If the people of Dover and District were to buy £10,000,000 worth of shares, then they would therefore own 2% of the port.
If we are to visualise the port being "largely owned" by the people of Dover and East Kent as Barry says, then we are looking at say 80% being owned, or forty times the figure quoted above. This would entail one in four of the population of Dover and District investing £40,000 each, marginally less in the event that investors from the rest of East Kent were included. Given that the average wage in Dover and District is below the national average and is quoted as £455.70 per week, is this in any way realistic?