§ 45. Mr. Emrys Hughesasked the Prime Minister if he will consider making a rule that Members of the Government shall sell all shares in private and public companies on taking office and invest only in Government and municipal securities.
§ The Prime MinisterThe principle at issue here is that Ministers should so order their affairs that no conflict arises, or appears to arise, between their private interests and their public duties. I am satisfied that the existing rules are sufficient to safeguard this principle.
§ Mr. HughesIs the right hon. Gentleman aware that it is quite possible now for a member of the Government to have shares in armament firms, and to have brewery shares and property shares, all of which have gone up as a result of the policy of Her Majesty's Government? Is he aware that in the United States of America the President and the Attorney-General have voluntarily decided that they will invest only in Government securities, and that the United States Minister of Defence, Mr. McNamara, has recently been before a Senate Committee which has compelled him to sell all his armament shares?
§ The Prime MinisterThe rules which have governed our affairs for a good number of years are well known. I would call the hon. Gentleman's attention to the fact that we last circulated 212 them in the OFFICIAL REPORT on 28th January, 1960. I do not think that they require amendment.