HC Deb 28 July 1891 vol 356 cc556-7
MR. LABOUCHERE

I beg to ask the Chancellor of the Exchequer whether there is any official prohibition of Members of the Government, who are also Members of this House, being directors of public companies during their tenures of office; and whether, if not, he will lay upon the Table of the House the names of the Members of the Government who are directors of public companies, together with the names of the companies?

MR. GOSCHEN

There is no official prohibition against members of the Government, who are also Members of the House, being directors of public companies, and I may add that while there is no prohibition there is also no precedent against it. I may also say that I think that members of successive Administrations have held such appointments. I am quite sure, however, that no member of the present or of any other Government would accept, or continue to hold, the directorship of a company the business of which clashes in any way with that of his own Department. With regard to the concluding question, the hon. Gentleman is probably aware that there are means of information within his reach which would show what directorships are held by particular persons, and in which the names of directors are given, and I do not think it would be right, with the precedents that exist, to have recourse to what might be looked upon as an invidious Return.

MR. LABOUCHERE

Is the right hon. Gentleman aware of the case of Sir Henry Austen Layard, who was a director of the Ottoman Bank, but who withdrew from the directorship when appointed Under Secretary of State for Foreign Affairs?

MR. GOSCHEN

That case fits precisely the view I have taken. It would clearly be inadmissible for an Under Secretary of State to be concerned in any institution such as that to which the hon. Member refers.

MR. LABOUCHERE

How is it possible for a member of the Government to attend Board meetings, which probably take place once a week, and also attend to the business of his Department, and how, in these circumstances, can he possibly protect the money of the shareholders?

MR. GOSCHEN

The latter question is a question for the shareholders. They have to decide whether they will elect or will not elect a member of the Government. They are the judges of the importance or otherwise of his presence on the Board. With regard to time, the hon. Member will bear in mind that the office hours of members of the Government are not mapped out in the same way as those of Civil servants, although, in the long run, they may work almost as many hours. I never heard of any member of the Government, either of this or of past Administrations, allowing any work of the kind to interfere with the discharge of official duties. In many cases, members of the Government have private estates to manage, and other calls upon their time. Indeed, I know of no persons who have more calls upon their time.