HC Deb 16 March 1948 vol 448 c1878
51. Sir John Mellor

asked the Chancellor of the Exchequer if he will give an assurance that the Treasury's estimate of the value of British Electricity Stock for purposes of compensation will, contrary to the precedent of British Transport Stock, be based upon arithmetical calculations.

Sir S. Cripps

No, Sir. The terms of British Electricity Stock will he decided in conformity with Sections 20 and 25 of the Electricity Act, 1947.

Sir J. Mellor

Does not the right hon. and learned Gentleman think that, if a little arithmetic had been used by the Treasury, it might have been possible to be much fairer to the stock holders?

Sir S. Cripps

No, Sir.

Sir Frank Sanderson

Will the Chancellor of the Exchequer consider the advisability of making new electricity stock available for Death Duties at par with a view to eliminating the danger of serious depreciation in the new stock?

Sir S. Cripps

That is another question.