HC Deb 05 December 1955 vol 547 cc2-3
3. Mr. Emrys Hughes

asked the Minister of Supply if he will introduce legislation to nationalise the production of guided missiles.

Mr. Erroll

No, Sir.

Mr. Hughes

Is the Minister aware that it is common knowledge that enormous profits are being made by the concerns which are providing these missiles, and that this production in the hands of a small group of people constitutes a monopoly? Does not he think that the State should be protected against profiteering in these armaments?

Mr. Erroll

The profits are small in relation to the magnitude of the work being undertaken, and there is no question of there being any monopoly in this field.

13. Mr. Emrys Hughes

asked the Minister of Supply what arrangements he makes for the supply of guided missiles to Her Majesty's Government.

Mr. Erroll

Development and production orders are placed to meet the requirements of the Services.

Mr. Hughes

Has the Minister made any inquiries into whether there is any profiteering? Did he not read a report in the newspapers last week in which the chairman of one of these leading manufacturing companies boasted that he had made big profits and that he was still going to make bigger profits and flout the Chancellor of the Exchequer?

Mr. Erroll

The profits made by companies engaged in this class of work are very closely scrutinised, and both my right hon. Friend and I have personally investigated the matter very thoroughly.

Mr. P. Williams

Is my hon. Friend aware that there is no real harm in making profits, and that it is only out of profits that better working conditions are obtained?

14. Mr. Emrys Hughes

asked the Minister of Supply what expenditure he has incurred up to 30th November on the manufacture and supply of rockets.

Mr. Erroll

It would not be in the public interest to give this information.

Mr. Hughes

Are we not entitled to know how our money is being spent? Surely there is no secret involved in giving the figure up to, say, the end of last year. Is the hon. Gentleman aware that there is a great feeling in the country that an enormous amount of money has been spent on this concern without proper justification?

Mr. Erroll

It is my right hon. Friend's desire to give as much information as possible to the House, but he must have full regard for security considerations in this important matter.