§ 6. Mr. LIDDALL
asked the Secretary of State for Foreign Affairs whether he proposes to initiate negotiations with the United States with a view to securing that the management of the Public Utilities Securities Corporation by the Reconstruction Finance Corporation, which is controlled by the United States Government, shall not be exercised in a manner prejudicial to the customers in the United Kingdom of the statutory undertakings indirectly controlled by the Public Utilities Securities Corporation?
§ 46. Mr. LEVY
asked the Prime Minister whether his attention has been drawn to the fact that the Reconstruction Finance Corporation, which is controlled by the United States Government, has taken over the management of the Public Utilities Securities Corporation; and, seeing that this latter corporation, through 339 various subsidiaries, controls many statutory undertakings in the United Kingdom, whether he is prepared to introduce legislation to free statutory undertakings in the United Kingdom from the partial control of a foreign Government?
§ Sir S. HOARE
So far as the interests of customers are concerned the position is as stated by my right hon. Friend the Minister of Transport on Monday, namely, that statutory undertakings are controlled by legislation, the application of which is not affected by changes in the ownership or control of the shares. As regards the Reconstruction Finance Corporation, I gather that its position in the matter depends on legal action in the United States, the outcome of which is still uncertain.
§ Sir ARTHUR MICHAEL SAMUEL
Is the right hon. Gentleman aware that the net result of the position may be that those statutory undertakings in Britain will be controlled directly or indirectly by the United States Government?
§ Mr. LIDDALL
Is the Minister also aware that most of the complaints in respect of electricity supplies in this country are directed against companies controlled by this American corporation?
§ Sir S. HOARE
I understand that the legal position is not changed. In any case, I have nothing to-day to add to my answer.