HC Deb 12 May 1953 vol 515 cc1039-40
21. Mr. Gough

asked the Chancellor of the Exchequer, in view of the fact that the Capital Issues Committee has now outlived its usefulness, if he will take steps to wind it up.

Mr. R. A. Butler

No, Sir. And I cannot accept the implication of the Question.

Mr. Gough

Would not my right hon. Friend agree that the continuance of this Committee forms a considerable brake on new and progressive undertakings? In view of the difference in the value of money, particularly after five years of Socialist rule, would he agree to increase the limit from £50,000 to £100,000?

Mr. Butler

The latter point would need to be put on the Order Paper. In regard to the first point, I really do not think that this Committee have held up development or issues of money where it is necessary. I am going by the statistics of what they have accepted and rejected. If they were a holding-up body and were unreasonable, I might revise my opinion, but I do not think that they are.

Mr. Dalton

May we take it that the Chancellor is entirely satisfied with the work of the excellent body of men who form this Committee?

Mr. Butler

I think that my original answer must have indicated that. They are men of the highest quality and greatest possible knowledge of these matters, and I have the greatest confidence in their activities.