§ 57. Mr. HARDIEasked the Prime Minister whether, in view of the fact that the Government holds shares in the Anglo-Persian Oil Company, he is taking, as the head of the Government, any part in the present dispute in the Scottish shale field controlled by the Anglo-Persian Oil Company?
§ The PRIME MINISTERThe Government holding of shares in the Anglo-Persian Oil Company does not affect the question, as the Government are pledged not to interfere in the commercial administration of the company. The facts in regard to the Scottish shale industry have been brought to my personal notice, in view of their bearing on the question of unemployment. The Government have, with the consent of Scottish Oils, Limited, obtained a full report on the position of the industry by an independent accountant. The facts disclosed in that report have, I understand, been communicated by the company to their employés. The Admiralty have also informed the company of the terms on which they are able to place a contract for oil next financial year. I do not think it is possible for the Government to take further action in the matter referred to in the question. As regards the present position of the dispute, however, my right hon. Friend the Minister of Labour is in close touch with both sides, and steps are being taken with a view to the resumption of negotiations between them.
§ Mr. HARDIEMay I supplement it in this way? In 1919, when the Government did take a financial part in this company, they paid £5 for every £l share held, and was not that arrangement agreed to by the Government, which to-day hides the actual profit on the actual capital used in the business? Will the Government not take steps to reduce it to the actual capital used in the business, and show the profits that are made on the actual capital?
§ Mr. SPEAKERThat does not arise.
§ Mr. HARDIEI want to give notice that I will raise this to-night on the Adjournment. It is quite a serious business. Talk about keeping industries going— [HON. MEMBERS: "Order, order!"]