HC Deb 18 June 1941 vol 372 c637
20. Sir Reginald Blair

asked the Parliamentary Secretary to the Ministry of Transport whether he will give an assurance; that no Government scheme shall be promulgated for any regrouping or alteration of ownership of the British railways before the Government has explained in detail to the country how those whose savings or corporate funds are invested in the railways may be affected and has obtained electoral assent for the changes contemplated?

Colonel Llewellin

No special undertaking seems to be required about the particular class of property mentioned while the existing Parliamentary safeguards remain in force.

Sir R. Blair

Is it not a fact that there are about 850,000 different stockholders in addition to many thousands interested in insurance companies, building societies, banks and trade, and in this democratic age ought they not to be consulted before any cut and dried scheme is produced?

Colonel Llewellin

Any scheme which is produced will have to have the sanction of this House.