§ 12. Sir John Mellorasked the Secretary of State for Foreign Affairs the present shareholding of the British Government in the Suez Canal Company; whether the British Government were consulted as to the revision of the agreement between the company and the Egyptian Government; and whether he is satisfied that this revision is in the interests of British shareholders and of British shipping?
§ Mr. EdenHis Majesty's Government hold 282,418 shares and 71,086 so-called "Actions de Jouissance" in the Suez Canal Company. This is a private company, and no question arises of approval or disapproval by His Majesty's Government of specific decisions taken by the Board of Directors; but British interests are represented on the Board by three British Government Directors and seven unofficial British Directors, the latter being representative of shipping and commercial interests. The recent agreement was approved unanimously by the Board.
§ Sir J. MellorWhat was the reason for the increase from £200,000 to £300,000 payable annually to the Egyptian Government by the company?
§ Mr. EdenI am afraid that I cannot answer that question without notice, as this is a private company and I cannot answer for its decisions.