§ 57. Mr. Lipson
asked the Chancellor of the Exchequer whether he proposes to take any steps to control the disposal of the sum, estimated to be about £20,000,000, received by Messrs. Courtaulds by the sale of their assets in the United States of America in the Viscose Company?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)
On various occasions since the outbreak of war securities have been acquired by His Majesty's Government with a view to re-sale abroad. Payment to the owners is made unconditionally in sterling. I have no doubt that the possibility of investment in Government securities will be in the minds of the directors of Messrs. Courtaulds. I would remind my hon. Friend that the sum has not been determined.
§ Mr. Lipson
Is it not a matter of concern to the right hon. Gentleman that this large sum should not be handed over to the shareholders by way of a return of capital, and so increase by this amount the possible spending power of a certain section of the community, and will he make representations to that effect to Messrs. Courtaulds?