HC Deb 23 May 1950 vol 475 c1846
57. Mr. Emrys Hughes

asked the Chancellor of the Exchequer why he approved of the recent capital issue of H. and G. Simonds.

Sir S. Cripps

Consent to the issue was given following on advice from the Capital Issues Committee who had consulted the Government Departments concerned.

Mr. Emrys Hughes

Is the Chancellor aware that £20 million was subscribed for this brewery company which required only £1 million? Could he not divert this money into more useful channels? If private investment has disappeared, where did this £20 million come from?

Sir S. Cripps

The hon. Gentleman will see from the Press this morning that we have to divert these sums to more useful channels.