HC Deb 20 November 1958 vol 595 cc1293-4
4. Mr. Nabarro

asked the Chancellor of the Exchequer having regard to the fact that the Suez Canal Company no longer owns the Canal, whether he will now make a statement as to future policy concerning the 353,804 shares, valued at £16,000,000 in early July, 1958, and owned by Her Majesty's Government.

Mr. Erroll

No, Sir; I have nothing to add to the replies my right hon. Friend gave to my hon. Friend on 22nd July last.

Mr. Nabarro

Have we not enough nationalisation already without the Tory Government taking over companies, or continuing their affairs, when the present operations of the company have no relation whatever to the original purpose nearly 100 years ago for which the shares were bought? Should not Her Majesty's Government now disgorge and take advantage of current favourable market conditions in this context?

Mr. Erroll

The issue is far more complicated than would be suggested by that supplementary question.