§ 45. Mr. W. Shepherdasked the Prime Minister what regulations govern the buying and selling shares by Ministers of the Crown on the Stock Exchange.
§ The Prime Minister (Mr. Attlee)It has never been thought necessary to make a formal regulation on the subject. But the position was clearly stated in 1913 by the Prime Minister of the day in the following words:
There are certain principles …. which are beyond dispute …. The first, of course, and the most obvious, is that Ministers ought not to enter into any transaction whereby their private pecuniary interests might even conceivably come into conflict with their public duty …. Again, no Minister is justified under any circumstances in using official information …. for his own private profit or for that of his friends." [OFFICIAL REPORT, 19th June, 1913, Vol. 54, c. 556–7.]
§ Mr. ShepherdIn view of the increasing extent to which Parliamentary activity affects the course of business, would it not be desirable to look again at this regulation with a view to crystallising it for the protection of Ministers themselves?
§ The Prime MinisterI do not think so. I think it is perfectly well known.