§ 72. Mr. J. P. Morrisasked the Chancellor of the Exchequer whether he will consider giving relief to those West African gold mining companies registered in this country which, after spending large sums of money during the last few years on machinery and development in order to increase production, are now unable to reap the reward of their labours owing to the limitation of dividends; and whether he will also consider the case of those companies which have recently started production?
§ The Chancellor of the Exchequer (Sir John Simon)My hon. Friend is aware that the Bill will contain provision for the consideration of cases involving exceptional circumstances and I think that cases of the type referred to by my hon. Friend will best be dealt with, in the light of all the facts, under that machinery.
§ Mr. CulverwellIs the right hon. Gentleman aware that many of these statutory companies do not pay and have never paid the maximum dividend allowed by Parliament?
§ 73. Mr. Culverwellasked the Chancellor of the Exchequer whether the Budget proposal to limit dividends paid by public companies applies to statutory companies whose dividends are already limited by Act of Parliament?
§ Sir J. SimonThe position of these companies is under consideration at the present time.