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Stories from the Past

Hitback

Lantern Swinger
A little bit of History on our Conservative Party...... Several Ministers and Lords continue to make a killing from their shares / partnership with the company....! I believe that to be the truth. I could be wrong!!!!! :roll:

Regards

Hitback


http://www.annington.co.uk/property/facts
The following below taken from this link: Created in November 1996 with the purchase of 57,434 homes (known as the Married Quarters Estate) and a number of related assets from the Ministry of Defence for £1.67 billion. On average each property cost a staggering £29k, with the MoD having to make good before return to annington home PLC.



The MOD

Up until March 2004, the Defence Housing Executive (“DHEâ€), an agency of the MoD, managed and maintained the properties leased from Annington. As of that date, the DHE merged with Defence Estates to form one single property organisation within the MoD.

Annington has no control over which properties are released to it by the MoD – the number, location and timing of any release is at the sole discretion of the MoD.

The MoD has the right to terminate its lease (on individual units or blocks of units) by giving Annington 6 months’ notice.

The MoD is entitled to profit share on disposal of individual units as well as on a change of control of the Company. This currently stands at 16% until 5 November 2009 when it reduces at a rate of 3% per annum down to 10% by 2011. With effect from 5 November 2011 it falls away. To end June 2009, the Treasury had been paid £156 million in profit share.

The MoD now has a stock of approximately 49,000 units in the United Kingdom of which 40,822 are leased from Annington. :roll:

It is reported that there are more than 9,000 void units in the MoD Estate. Units are left empty for a number of reasons; substandard properties, a lack of funds for upgrade or redevelopment, vacancies awaiting redeployments of troops, temporary accommodation while properties are upgraded, genuine voids arising from a lack of demand etc. The MoD’s housing requirement is dependent on MoD’s long-term defence strategy which dictates force movements and deployments. With Iraq, Afghanistan and a number of commitments abroad, this is complicated. Financial constraints on capital expenditure also mean that, even when a strategy is clear, the policy cannot always be implemented without resorting to alternative funding mechanisms such as PFI.
 
The aircraft were used for six years in Iraq but need modifications, such as new rotor blades, for higher altitudes.
"These are not family cars," said Bob Ainsworth. "There are a number of them that are broken and need repairs."

We should treasure that as one of the few sensible things Ainsworth has said. We don’t have the capacity to fast feed machines through DARA and the outside contractors any more because they were all allowed to run down to save money. Defence and Industry on the cheap can be quite expensive.
 
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