From Isaac Farnbank, chairman of the IW Young Conservatives:
I note the many letters and views expressed over the Island's connectivity to the mainland.
It is all very well endlessly debating and demanding any number of various scatterbrain solutions, but before these grandiose ideas are inflated to an embarrassing level, examine the various likelihoods of options.
It is a fantasy to even entertain the idea of nationalisation.
Firstly, no sane Treasury would take on debt ridden companies, pay out compensation to shareholders, legislate in Parliament, create a subsidiary company and so on when there is insatiable demand on the public purse, not to mention a Goliathan deficit.
Competition, by contrast, hands power not to politicians (shades of floating bridges) but to consumers.
To increase competition, a choice must be extended to Islanders.
A new ferry company, operating the same routes as the existing firms, would give consumers a real choice, leading to an incentive for all firms to cut prices and provide a better service.
Such a company could be created by an Island consortium, backed by the council, government and share capital.
Significant amounts of capital would be required, but would ultimately power economic growth in the Solent area.
The development of Sandown Airport, led by the private sector with government backing, in order to have regional air capacity, would enable existing regional airline companies to expand services to the Island from London and Southampton, again extending choice and incentivising efficiencies, more reliability, new service features and lower prices.
Of course, such a brief summary hardly scratches the surface of what would be required, the likelihood of success etc.
There is one thing, however, that can be set up within months.
A comprehensive study investigating whether A) The current market structure/nature is in the interests of Islanders; B) Introducing direct route competition is feasible and the options for doing so; C) Development of air capacity would be a feasible option to increase competition and power economic growth.
If we are to improve the situation, let's not politicise, let's not return to backward thinking, but to look forward to new ideas, and new ambitions.
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