§ 37. Mr. Edelmanasked the President of the Board of Trade whether, following the disagreements between the shareholders of the Daimler Company, which have resulted in a decline in trade and the threatened dismissal of 1,000 workers, he will set up under Section 165 (b, iii) 1332 of the Companies Act a committee of inquiry in order to investigate the company's affairs.
§ Sir D. EcclesI see no reason for an investigation under the Companies Act. I am informed that the figure of 1,000 mentioned by the hon. Member is much exaggerated.
§ Mr. EdelmanWhile I recognise that the inquiry may have to be postponed until the next Labour Government comes into power, is the right hon. Gentleman aware that the Daimler workers in my constituency believe that they have become the victims of an irresponsible feud between shareholders of the company? Further, is he aware that the company, with its famous name, is threatened today with extinction, and will he take action now, or does he intend to wait until another North American company takes control of a leading British firm?
§ Sir D. EcclesI think that the hon. Gentleman's constituents are under a misapprehension. The Daimler Company intends to continue making cars. What it has done is to rationalise the number of models.