26. Mr. H. Wilsonasked the Chancellor of the Exchequer if he is aware of the growth of the practice of acquiring the shells of public companies for the purpose of evading capital issues control, and for other purposes; and what action he proposes to take in the matter.
§ The Paymaster-General (Mr. Reginald Maudling)I have nothing at present to add to my right hon. Friend's reply to the hon. Member for Loughborough (Mr. Cronin) on 4th February,
Mr. WilsonIs the right hon. Gentleman aware that I specifically avoided referring to the tax avoidance aspects of this practice, for obvious and seasonal reasons? Will he draw to the notice of his right hon. Friend the Chancellor of the Exchequer, who should now be in an advanced state of preparation of his Budget, that this is of great importance not only in the tax sense but also in the sense of the avoidance of capital issues control?
§ Mr. MaudlingMy right hon. Friend always pays close attention to anything said by the right hon. Gentleman, particularly when he is as tactful as he is today.