HC Deb 09 July 1940 vol 362 c1079
54. Mr. Craven-Ellis

asked the Chancellor of the Exchequer whether his attention has been drawn to the catastrophic decline in industrial shares during the month of June last; and, in view of the loss to the Treasury through Stamp and Estate Duties, what action does he propose to take?

Sir K. Wood

I would refer my hon. Friend to the answer I gave on 4th July to my hon. Friend the Member for St. Pancras, South West (Sir G. Mitcheson). The upward movement to which I referred has continued.

Mr. Craven-Ellis

Is it correct that the big insurance companies and other large investors were instructed to keep out of the equity market prior to the National War Loans issue?

Sir K. Wood

I do not think that arises out of the Question.