The losers would be the small investors, who would no longer own and control their society under the one-member-one-vote principle.
The building societies are a thorn in the side of their plc competitors because they can offer better value to customers. They are a healthy ingredient in a mixed economy and government, until now inactive, should legislate to make it harder for societies to be sold or converted to plc status.
R P O'BRIEN
London HA4Reuse content