HC Deb 18 December 1958 vol 597 cc1297-8
32. Mr. Jay

asked the President of the Board of Trade what offer has been made for the purchase by private interests of the holdings of the National Film Finance Corporation in British Lion Films Limited; and whether he proposes to give his approval.

Mr. J. Rodgers

Two offers have been made, but neither was considered acceptable by the National Film Finance Cor- poration. and no question of my right hon. Friend's approval has arisen.

Mr. Jay

Will the Parliamentary Secretary take note that a large amount of public money is being invested in this company and many of my hon. Friends would be very critical if it were to be sold at a large loss to the taxpayers and a large profit to private companies?

Mr. Rodgers

I am well aware of the right hon. Gentleman's views on this, but I think that we should await the subsequent debate today.

Mr. Speaker

I should say that the right hon. Member for Battersea, North (Mr. Jay) has very kindly, at my request, withdrawn his request to raise this subject on the Adjournment this afternoon. This is because we are going to be very short of time.

Mr. Rankin

Will the Parliamentary Secretary take note of the fact that no absolute denial has been made of the statement that appeared in the Daily Express on 11th December?

Mr. Rodgers

I would draw the hon. Gentleman's attention to the statement recently issued by the N.F.F.C. The National Film Finance Corporation announced that no negotiations for the sale of their interest in British Lion Films, Limited, are now in progress and no such sale is now contemplated. I should like to apologise to the right hon. Gentleman the Member for Battersea. North (Mr. Jay); I did not realise that his Adjournment debate had been withdrawn.

Mr. Jay

I realise that the hon. Gentle man was not aware of that. As we are not going to debate this subject, can the Parliamentary Secretary at least assure us that no such sale will go through until we have had an opportunity of debating this matter after Christmas?

Mr. Rodgers

I can assure the right hon. Gentleman that no such sale is contemplated at the moment and no sale will take place without my right hon. Friend's permission. I do not see any likelihood in the near future of a sale being negotiated. I think I can say with confidence that we shall have a debate before the sale takes place.