HC Deb 25 March 1947 vol 435 cc1072-3
52. Major Bruce

asked the Chancellor of the Exchequer the number and aggregate sum to date of capital issues approved under the Borrowing (Control and Guarantees) Act, 1946, and capital issues since 16th July, 1946, for which no such approval was required; and whether he will give particular totals in respect of each of the above categories, for issues in respect of the capital goods industries, the consumer goods industries and services, excluding the entertainment industry, and the entertainment industry, respectively.

Mr. Dalton

As the answer contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.

Major Bruce

Will my right hon. Friend say whether, broadly speaking, the powers conferred on him under the Borrowing (Control and Guarantees) Act are adequate for this purpose, and to what extent those powers have been vitiated by a growing tendency to effect offers of sale under the London Stock Exchange regulations?

Mr. Dalton

The answer to the first supplementary question is "Yes, Sir." Up to date, it is quite satisfactory. The second question raises another matter, and perhaps my hon. and gallant Friend will put it on the Paper.

Following is the answer:

CAPITAL ISSUES CONSENTED TO BY THE TREASURY DURING THE PERIOD I ST JULY, 1946-28TH FEBRUARY, 1947 INCLUSIVE.
Number of Cases. Approximate Totals.
Capital goods industries. 98 £36,000,000
Consumer goods and services (excluding entertainments). 51 £17,000,000
Entertainments (film industry, etc.) 27 £9,000,000
Miscellaneous 145 £32,000,000
Total 321 £94,000,000
1. Figures are, so far as possible, for issues Involving new money.
2. The above figures are for domestic issues only, and also exclude issues by local authorities.
3. No figures are available for issues made under the £50,000 limit and other exemptions