Pub Companies - Business and Enterprise Committee Contents

Supplementary memorandum from Paul Daly

  I awoke this morning with one of those feelings of not quite believing I was in the situation I'm in.

  I was thinking that in the time the British government has allowed these huge property companies to force their tenants to buy products that have been hugely inflated Apartheid has fallen, there is a ceasefire in Northern Ireland, The Soviet Union has fallen, and America has a black president.

  This model is a form of tyranny and the irresponsible borrowing that these companies have signed up to is forcing them to take more and more advantage of their tenants or "partners" as they like to call us. It has got to be stopped and stopped now.

  What they have done and the Gearing they have exposed the companies to is similar to the Sub-Prime fiasco in America. By this I mean they know perfectly well that X-per cent of their tenants will fail and face financial ruin but still they borrow. This huge debt then forces them to take more and more advantage of their "Partners".

  This self imposed huge liability is going to be their main argument when they come cap in hand with grovelling stories of not being able to survive on 9 December at the oral evidence session. They need to be stopped and heads need to roll as they did and are continuing to do in the Banking sector worldwide.

  I would like to attend on Tuesday please to witness the lies and legal loopholes that they come up with this time to further out-manoeuvre the MPS and the Business and Enterprise Committee. What do I need to do to attend?

  Please add this letter into the system against this extreme exploitation being allowed to continue.

5 December 2008

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