§ 65. Mr. Liddallasked the President of the Board of Trade whether he will request the Economic Advisory Council to 1759 consider whether it is in the public interest that London flotation firms, following the Japanese Zaibatsu plan, should buy control of numbers of gas and water companies in the North of England, Wales, Scotland and the Home Counties, and then, for their own benefit, create and sell to the public preference shares based upon these public utility concerns, the equities and voting rights of which are retained by the flotation firms; and whether his attention has been drawn to a transaction of this kind advertised on 7th June?
§ The Parliamentary Secretary to the Board of Trade (Captain Euan Wallace)I am aware of the offer referred to, and of other offers of capital by holding companies which have acquired control of gas undertakings; and am considering whether any further inquiry into the matter is called for.