§ 41. Mr. GARRO-JONESasked the Under-Secretary of State for Air whether he will incorporate in the new scheme for subsidising Imperial Airways some pro- vision to surcharge, in favour of the State, any capital appreciation of that company's shares which results from the State subsidy?
§ Sir P. SASSOONWhile I am not in favour of a provision in the form suggested by the hon. Member, I can assure him that agreements with the company will include adequate safeguards against the possibility of subsidies resulting in excessive profits.
§ Mr. GARRO-JONESHas the right hon. Gentleman kept in mind that the shares of this company have appreciated more than ten-fold in the last few years, and that the only dividend basis for the capital appreciation is represented by the State subsidy? If so, will he give honest consideration to a scheme which I am prepared to submit to him to tap this capital appreciation?
§ Sir P. SASSOONI shall be glad to consider any scheme.
§ Mr. GARRO-JONESHonestly, I said.
§ Mr. BELLENGERDoes the right hon. Member suggest that he proposes to take steps to carry out what he said in his original answer?