HC Deb 21 February 1956 vol 549 cc179-80
27. Lieut.-Colonel Lipton

asked the Chancellor of the Exchequer the amount of dividend received by the Treasury from the British Petroleum Company in each of the last two years.

Mr. H. Macmillan

The figures are published in the Finance Accounts of the United Kingdom for the year concerned.

Lieut.-Colonel Lipton

In view of the doleful economic situation, will the Chancellor, as the principal shareholder in this company, ask it not to sabotage the fight against inflation by lavish dividend distribution, even if it is precluded by arrangements with the American Oil Company or other companies from using the increased profits to reduce the price of petrol to British consumers?

Mr. Macmillan

I do not think we can be said to have sabotaged the company. When we came into office all its operations in Abadan had stopped. Now they are working again.