HC Deb 15 July 1924 vol 176 cc187-8
1. Mr. BAKER

asked the President of the Board of Trade whether, in connection with the proposal to introduce legislation to deal with trading profits, he will have regard to the fact that a well-known firm of caterers made profits of £396,684 in 1920, £503,323 in 1921, £595,615 in 1922, and £631,816 in 1923, paid ordinary dividends in these years of 42½ per cent., 42½ per cent., 25 per cent., and 25 per cent., respectively, and two years ago distributed a 100 per cent. share bonus?

The PRESIDENT of the BOARD of TRADE (Mr. Webb)

I am aware of the particular case to which my hon. Friend refers. In considering the possibility of legislation, and the lines on which it should proceed, all relevant facts will be taken into account.


Has the right hon. Gentleman's attention been called to a recent announcement that another company is proposing to distribute £8,000,000 in bonus shares, and in these circumstances is not the matter urgent?


I am aware of that statement, but am afraid that I am not able to add anything to the answer which I have given.


Is it not the policy of the Government to encourage private enterprise?