§ 5. Sir F. Medlicott
asked the Chancellor of the Exchequer if he will now introduce legislation to amend the Trustee Act so as to widen the range of investments permitted to trustees; and, in particular, so as to include approved categories of investment in equity shares and building societies.
The whole question of widening the range of investment by trustees is still under review, but I regret that I am unable to say how soon legislation can be introduced.
§ Sir F. Medlicott
Although the types of investment suggested in the Question are now very respectable and reliable, is my right hon. Friend satisfied that the Treasury are being quite objective about this and are not merely trying to support the gilt-edged market by channelling into it as much trust money as possible?
I will take note of what my hon. Friend has said when this review is completed and the results are available to me.