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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
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