§ 9. Lieut.-Colonel Liptonasked the Chancellor of the Exchequer what consultations he had with the directors nominated by Her Majesty's Government to the board of the Anglo-Iranian Oil Company prior to the recent increase in the retail price of petrol.
§ Mr. MaudlingNone, Sir.
§ Lieut.-Colonel LiptonHow can the Minister justify his complete indifference towards this increase, in view of the vast profits of this Government-controlled and Government-owned undertaking? Is there a secret cartel arrangement with the American oil companies as a result of which we must follow any increase in price which they choose to make, and not give to the British home consumer the benefits of the profits that we earn in this Anglo-Iranian Oil Company and its subsidiaries?
§ Mr. MaudlingIt has been the accepted policy of all Governments since914 not normally to interfere with the commercial operations of this company.