HC Deb 05 February 1959 vol 599 cc565-6
36. Mr. Marquand

asked the Chancellor of the Exchequer how many of the wholly-owned subsidiaries of the Iron and Steel Holding and Realisation Agency contributed towards the cost of a survey of public opinion concerning national ownership of industry which was made by the British Market Research Bureau.

Mr. Erroll

I am informed that none of the subsidiaries of the Iron and Steel holding and Realisation Agency has contributed towards the cost of the survey in question.

Mr. Marquand

Is the Economic Secretary aware that that wholly satisfactory Answer is just what I expected. Would he not now agree that the nation derives great benefit from the fact that the great firm of Richard Thomas and Baldwins remains in public ownership, selling its tinplate in all the markets of the world without the need to have recourse to "phoney" market surveys or dabbling in party politics?

37. Mr. Marquand

asked the Chancellor of the Exchequer to what extent the Iron and Steel Holding and Realisation Agency gave its approval to subscriptions by any of the steel companies in which it holds prior charge securities to the cost of a survey of public opinion concerning the public ownership of industry which was made by the British Market Research Bureau.

Mr. Erroll

The Agency's approval was neither sought nor required.

Mr. Marquand

Is the hon. Gentleman aware that several months have now passed since I drew attention to the undesirability of the practice of firms in which no less than £172 million of public money are invested indulging in political activities? Are we to assume from his Answer that he took no steps whatever to warn them about the undesirability of the practice? If so, are we to conclude that the Government connived at this "phoney" market research?

Mr. Erroll

The fact remains that the holding of fixed-interest securities in a company does not entitle the holder generally to interfere in matters such as this.

Mr. Marquand

We are well aware that that is the legal position, but does he not think that the Government's moral position—and honour—is involved?

Mr. Erroll

We think that our moral position involves the necessity of complying with company legislation and practice generally.