HC Deb 07 February 1957 vol 564 cc583-5
6. Mr. Lawson

asked the President of the Board of Trade in view of the importance of dollar exports to this country and the record in this regard held by the 83-year-old Hawick knitwear firm of Lyle and Scott, what steps he proposes taking to ensure that those exports are not lost through this firm passing, by means of a take-over bid, into other hands.

3. Mr. Bence

asked the President of the Board of Trade what steps he proposes to take in response to the request of the directors of Lyle and Scott, of Hawick, that he should intervene in the take-over bid made by another firm.

9. Mr. Willis

asked the President of the Board of Trade what steps he proposes to take as a result of the representations made to him concerning the take-over bid of £600,000 for Messrs. Lyle and Scott Limited, Hawick.

Sir D. Eccles

I would refer the hon. Members to the Answer given on 5th February by my hon. Friend the Parliamentary Secretary to Questions asked by the hon. Members for Kilmarnock (Mr. Ross) and Leith (Mr. Hoy).

Mr. Lawson

I have read that Answer, and I am pleased to see that the officials of the Board of Trade are to meet the chairman of this company. Might I ask the right hon. Gentleman whether he himself might meet the chairman, bearing in mind that two-thirds of the company's exports of knitwear go to the dollar market, and that those exports might be lost if there were a change of control?

Sir D. Eccles

The company was invited to come to the Board of Trade, but we have had no answer to our invitation. I am aware of the nature of the export business.

Mr. Osborne

Has my right hon. Friend any power to see that the buyer of this business does not put into the home market stocks which would otherwise be exported? If he has not such power, has he any power to acquire it, so that those products are not put into the home market when they could be sold in the dollar market?

Sir D. Eccles

I have a very large number of powers already. I really do not wish to add to them.

Mr. Rankin

Is the President of the Board of Trade aware that his attitude is much more helpful than was that of the Secretary of State for Scotland when we raised this matter on Tuesday?