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Bill: F-142: Private Industry Act
Details
Submitted by[?]: Federal Heritage Party of Hutori
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: December 4415
Description[?]:
| This bill seeks to provide for economic uncertainty while maintaining a modicum of economic freedom. Article 1) This bill does not denationalize industries that are nationalized by other pieces of legislation. Article 2) Vital goods and services shall be defined as natural resources, power generation, defense, energy and telecommunications. Article 3) All government nationalized industries will be sold to national investors and the funds put into the national surplus. Article 4) These industries shall only be nationalized if private companies are unable to provide a minimum level of service or if they face bankruptcy. In the event of nationalization the Ministry of Trade and Industry will step in and nationalize said industry and or company. Article 5) Any Companies taken under the wing of the Federal Ministry of Trade and Industry via Bill F-142 Article three will remain under the control of the MTI until such a time that the Minister of Trade and Industry can decide that that company will survive on its own. Article 6) In the event a private company is seized under article 3 and also happens to be a natural resource company the government will maintain a 50% share after the initial public offering. |
Proposals
Article 1
Proposal[?] to change Government policy on industry and subsidies to industrial operations.
Old value:: Certain industries are owned by the state, all others are under private ownership.
Current: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Proposed: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Debate
These messages have been posted to debate on this bill:
| Date | 19:14:27, June 26, 2018 CET | From |  Federal Heritage Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, We hereby open this bill to debate. Jeffery Rawson Federalist Parliament Leader |
| Date | 20:14:30, June 26, 2018 CET | From | New Liberal Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, The risks posed by this bill are too great! Guaranteed support for private industry only begets risky behaviors. Under the watchful eye of the government, nationalised industries won't take risks and exist only to serve the people. We will vote against this bill. Rebecca Doyle MP for Prosperity Cove Parliamentary Leader of the New Liberals |
| Date | 20:39:27, June 26, 2018 CET | From | Federal Heritage Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, Does the Honorable Ms. Doyle not read? Losing their company is the incentive to not take extreme risks. We would seize the company if it fails to provide essential services, we wouldn't subsidize it. We also find it fascinating that the NLP wants the "watchful eye of the government" to watch over industry. Which eye is that? Is it the coalition that is currently opposing them? Or is it their USPH overlords that are currently holding the government hostage? It seems the NLP has done little to serve the people, yet they continue to preach their neo-socialist rhetoric even as it corrodes the very people they claim to protect. Jeffery Rawson Federalist Parliament Leader |
| Date | 21:34:53, June 26, 2018 CET | From |  Scientian Enclave | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, The Scientians will support this bill only if a provision is added to ensure industries falling under vital natural resources, such as oil reserves, have the government maintain majority shares. - Ambassador Norbert Lowell of the Scientian Enclave |
| Date | 21:42:11, June 26, 2018 CET | From | Federal Heritage Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, We would like to ask of Mr. Lowell what exactly he means by maintain majority share? Does he mean after the company is released back to private ownership? Or does he mean something else? Jeffery Rawson Federalist Parliament Leader |
| Date | 22:03:22, June 26, 2018 CET | From | Scientian Enclave | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, To clarify, once a nationalized natural resource company is put up for public trading, we believe the government should maintain a majority share (greater than 50%) of the company. - Ambassador Norbert Lowell of the Scientian Enclave |
| Date | 22:09:59, June 26, 2018 CET | From | Federal Heritage Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, We offer a compromise to Mr. Lowell. What about the government will maintain a 55% share after the initial public offering for a term of 10 years. After which an additional 5% maybe sold every 5 years. Would that be an acceptable compromise? Jeffery Rawson Federalist Parliament Leader |
| Date | 23:14:43, June 26, 2018 CET | From | Scientian Enclave | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, Unfortunately we cannot agree to a compromise of that degree. We view it as highly important that the Hutorian government maintains a majority share of its natural resource sector, especially in the fossil fuel industry. Total privatization — even when spread out over several decades would be going too far. - Ambassador Norbert Lowell of the Scientian Enclave |
| Date | 23:19:42, June 26, 2018 CET | From | Federal Heritage Party of Hutori | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, We would ask the Scientian Enclave if there is any compromise to be had here? We are bound by our constituency on this matter and cannot except permanent control of government over industry. However, we are willing to at least try to find a reasonable compromise. Does Mr. Lowell at least have a counter-offer? Jeffery Rawson Federalist Parliament Leader |
| Date | 23:41:08, June 26, 2018 CET | From | Scientian Enclave | To | Debating the F-142: Private Industry Act |
| Message | Mr. Speaker, As stated, we do not support the total privatization of Hutorian natural resources — we support of balance of public and private ownership. We offer three alternatives at this time. Any of these would grant our support. Alternative 1 (most preferred): Hutorian government maintains 50.01% share of natural resource sector. 49.99% of shares would be under private ownership. Alternative 2: Hutorian government maintains 49.99% share of natural resource sector. 49.99% of shares would be under private ownership. 0.02% of shares would be worker-owned. Alternative 3 (least preferred, but still tolerable): Hutorian government maintains 50% share of natural resource sector. 50% of the other shares would be privately owned. - Ambassador Norbert Lowell of the Scientian Enclave |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 197 | ||||
| no | Total Seats: 152 | ||||
| abstain | Total Seats: 56 |
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