(3 days, 7 hours ago)
Commons Chamber
Joe Robertson
My hon. Friend mentioned two key words: democratic accountability. That is fundamentally what underpins this issue, and it is a principle that we expect to apply to all forms of public transport—except ferries.
I urge the Government to use this opportunity to create regulation and devolve it down. That way, they will not have ongoing responsibility for administering this issue, and the decision making will be made as close as possible to the individuals affected by the decisions. I am speaking for my constituents, but I could also be speaking for those elsewhere in the country. This is also about the economic wellbeing of the area. My constituents are heavily reliant on tourism. Indeed, the benefits of tourism are felt by 38% of our economy, but to visit the Isle of Wight, tourists must pay the price of the ferry. That is on top of everything else that they might want to spend when they are on the island.
Let us remember that the money paid to the ferry companies goes off to private equity investors, many of which are abroad, and some of which are foreign pension funds. Not only does that mean less money to spend in my area on businesses that employ local people, but it will put some people off travelling to the Isle of Wight at all. The Minister may want to see ferry prices as a large tax that people can avoid by simply visiting other places for their holidays. That is the tragedy of this situation. Indeed, tourist footfall has fallen on the Isle of Wight more than it has for anywhere else in the United Kingdom.
Before I end, I will back up my argument with facts. Earlier this year, the highest price somebody paid to bring a car back and forth to the Isle of Wight was £400. That is £400 for a sea crossing of 5 miles. The timetables have diminished since private equity took control. Once there were half-hourly services, but it is now more than an hour between services. Ordinarily, a company would not get away with doing this, because the consumer—the passenger—would go elsewhere, but the only “elsewhere” option is another ferry company that is also controlled and owned by private equity. It is no wonder that one of those companies was sold last month from private equity to private equity. The website of the new controlling group does not talk about the uncompromising pursuit of passenger experience. It boasts about the uncompromising pursuit of capital investment. That is capital investment for people who want to invest in that holding company.
I thank again all those who have supported this proposal. It was a particularly significant moment to hear the shadow Minister confirm that His Majesty’s official Opposition backs the regulation of ferry companies through my amendment.