HC Deb 02 July 1957 vol 572 cc865-6
10. Mr. Edelman

asked the Chancellor of the Exchequer in which public companies Her Majesty's Government holds shares; what is the extent of these holdings; and to what extent it is his intention to increase the shares thus held.

Mr. P. Thorneycroft

I am circulating in the OFFICIAL REPORT a list of these holdings. I cannot forecast what changes in any of the holdings there may be in the future.

Mr. Edelman

Whilst not asking the Chancellor to anticipate the programme of the next Government, may I ask if he will not agree that these constitute valuable precedents? Will he consider applying the principle, say, to the motor industry, or does he regard the prototype of the Anglo-Iranian Oil Company as being too Socialistic to serve as an example?

Mr. Thorneycroft

I should have thought it a most inept procedure to add to all our present difficulties by trying to start investing right, left and centre in a lot of unspecified bits of British industry.

Mr. Jay

Does not the Chancellor think that the right hon. Member for Woodford (Sir W. Churchill) was the pioneer in this respect?

Mr. Thorneycroft

There is no objection to the investments which have been made in the past, no doubt for very special reasons in particular circumstances, but I am asked whether this should be adopted as a widespread and general policy and I must say that I should have thought it would have been a most unwise procedure.

Mr. Shinwell

If the Chancellor wishes for information about shares in industrial undertakings, will he apply to Transport House?

Following is the List:

Government holdings of shares in public companies*