§ 48. Mr. MONTAGUEasked the Minister of Agriculture what proportion of the capital issued to beet-sugar factories in this country is of British origin?
§ The MINISTER of AGRICULTURE (Mr. Guinness)I am informed that the total capital, including debentures, of the factories in operation last season was about £7,830,000, of which £1,725,000 was believed to be foreign. The figures of foreign-held capital can only be approximate, as a proportion of the shares in beet-sugar factories change hands from time to time in the market.
§ Mr. MONTAGUECan the Minister of Agriculture say why this Amsterdam company should have its pockets filled by the British Treasury?
§ Mr. GUINNESSI very much doubt whether they have, seeing the great shyness which British investors have recently shown in investing in new ventures to produce British sugar.
§ Mr. THURTLECan the right hon. Gentleman tell the House whether all 334 this foreign capital will derive benefit under the new rating proposals suggested by the Government?
§ Mr. GUINNESSAny factory which complies with the conditions will benefit, and it is quite proper that it should benefit.