HC Deb 18 March 1937 vol 321 c2257
61. Mr. Garro Jones

asked the Financial Secretary to the Treasury whether there are any specific rules restricting investment or speculation by civil servants; and, if so, whether such rules make any reference to the shares of armament concerns, or other concerns largely affected by their contractual relations with Government Departments?

Lieut.-Colonel Colville

The principles regulating the conduct of civil servants in this and cognate matters are laid down in a Treasury Circular dated 13th March, 1928, of which I am sending the hon. Member a copy. I do not think it is either necessary or desirable to lay down more precise regulations in amplification of these principles, as their application must necessarily vary according to the position, the Department and the work of the officer concerned.

Mr. Garro Jones

Does the Circular make any specific reference to speculation in armament shares; and, if not, will the Financial Secretary state explicitly whether he considers that such speculation would be compatible with the fastidious standard which is generally maintained in the Civil Service?

Lieut.-Colonel Colville

Perhaps the hon. Member will study the Circular which I am sending him, and which is a long one. Afterwards, if he wishes to follow the matter up, I shall be glad to answer any questions.