36. Mr. SAMUELasked the Chancellor of the Exchequer whether he will consider the advisability of taking steps to acquire by compulsory purchase the share capital of the co-operative societies upon which dividends at the rate of 5 per cent. per annum are now allowed to be paid in exchange for bonds bearing a fixed interest of 3½per cent. per annum, for the purpose of creating a new source of revenue and at the same time controlling profiteering and price levels?
Mr. CHAMBERLAINMy hon. Friend's proposal would require legislation, which I do not see my way to propose to the House.
Mr. SAMUELMay I ask whether the Government take that view because the majority of the accounts and balance sheets of trading or commercial services conducted by the Government show losses?