HC Deb 25 July 1957 vol 574 cc586-7
44. Mr. Edelman

asked the Chancellor of the Exchequer whether he has yet authorised the sale by Messrs. Standard Motors, Limited to Messrs. Massey-Harris-Ferguson, Incorporated, of the ordinary shares of the company.

Mr. Birch

Yes, Sir. Permission under the Exchange Control Act, 1947, has been given.

Mr. Edelman

While regretting that reply, may I ask the right hon. Gentleman to inquire into the extent to which shares in the purchasing company are held in the United States? Will he bear in mind that the interests of the American motor industry do not necessarily correspond with the interests of the British industry?

Mr. Birch

If that is so, I will certainly inquire into it.