HC Deb 07 March 1932 vol 262 c1479
59. Captain P. MACDONALD

asked the Chancellor of the Exchequer whether it is intended to take any action to improve the financial position of the Imperial Communications Company, in view of the benefit which would accrue thereby to the national revenue under the Imperial Telegraphs Act?


The only payments referred to in the Imperial Telegraphs Act, 1929, which now benefit the national revenue are the annuities in respect of the Pacific Cables which would be payable from the Consolidated Fund if they were not duly paid by the Communications Company. As these annuities are being duly paid, I do not quite understand the hon. and gallant Member's suggestion that benefits would accrue to the national revenue from the action to which he refers.