HC Deb 25 January 1949 vol 460 c743
46. Mr. Emrys Hughes

asked the Chancellor of the Exchequer if he approved the recent issue of 1,000,000 preferred shares by Teacher (Distillers) Ltd.

Sir S. Cripps

Treasury consent to the issue of this company's capital was given on the advice of the Capital Issues Committee.

Mr. Hughes

Is the Chancellor aware that the lists for this issue were closed in three minutes because £20 million was subscribed? Will he consider diverting some of this into the Exchequer?

Sir S. Cripps

That will, no doubt, be a matter for the Budget.

Mr. Butcher

Could the right hon. and learned Gentleman say how much of the proceeds of this issue will eventually reach him in terms of Death Duties?

Sir S. Cripps

I could not say, unless the hon. Member could tell me when the various people will die.