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Royal Mint Partnership?

THE Royal Mint should be kept in the public sector, but run as a co-operative, it is being proposed.

Last month the UK Government announced its intention to turn the Mint, based at Llantrisant, into a company as a prelude to privatisation.

The move is being opposed by the workforce and some politicians.

Sustainable enterprise charity the Nordic Enterprise Trust has linked up with Martin Davies, leader of the Welsh "apolitical party" Newid to propose an alternative solution.

Under the pair's proposal, a Royal Mint Capital Partnership would be set up, with a structure entirely different to that of an orthodox public or private limited company.

The physical assets would be lodged with a "custodian" on behalf of the public - Newid believes this ought to be the National Assembly for the time being since the Royal Mint is situated on Welsh soil.

Shares in the company managing the business, the "managing partner", would be placed in trust for its management and staff, just like, for example, the John Lewis Partnership. This company would receive an agreed proportion of the revenues received from the Royal Mint's customers through the partnership.

Investors would become "capital partners'" rather than owners, sharing in the revenues.



"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Tue May 5th, 2009 at 02:12:04 PM EST
[ Parent ]
This is very good news, even though there is a tortuous journey still ahead. It will bring media attention. If the workers at the Mint fully support it, it will get even more attention - long lasting as well, as the fate of the Mint plays out.

I especially liked the reference to the Welsh traditional acceptance of cooperatives.

Bravo!

You can't be me, I'm taken

by Sven Triloqvist on Tue May 5th, 2009 at 02:25:36 PM EST
[ Parent ]
Fantastic.

And good luck with the following steps.

Truth unfolds in time through a communal process.

by marco on Tue May 5th, 2009 at 03:04:44 PM EST
[ Parent ]
Is the "Custodian" and capital partnership approach suitable as an organizational structure for the national and international governance of the internet?

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 5th, 2009 at 07:48:13 PM EST
[ Parent ]
I believe it is: it also enables a new synthesis between Open Source and proprietary software. It's possible to create a cross-border protocol which is both Open and Closed.

It's closed because only members may use it, but open, because anyone who consents to the agreement may be a member. Also a percentage of nothing is nothing so thosr interested in free (as in beer) software can participate......

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed May 6th, 2009 at 12:46:07 PM EST
[ Parent ]

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