HC Deb 28 February 1961 vol 635 cc1363-4
33. Mr. Frank Allaun

asked the President of the Board of Trade, following his correspondence with Lord Jenkins about take-over bids in the newspaper industry, how soon the Jenkins Committee will report.

Mr. N. Macpherson

My right hon. Friend understands that the Committee is making good progress, but he cannot say when it will be ready to report.

Mr. Allaun

What possible use is there in shutting the stable door after the horse has bolted? Will any legislation following the Jenkins Committee's report be retrospective, since at this moment an empire of more than 300 newspapers and magazines is being formed?

Mr. Macpherson

I could not anticipate the terms of legislation, or even the report which the Committee now investigating the matter would be likely to arrive at.

Mr. Jay

Is it in accordance with the policy of the Government that these take-over bid operations should go forward while both this Committee and the proposed Royal Commission are engaged in deliberations?

Mr. Macpherson

We shall have to consider each case as it arises.

Mr. Jay

Does that mean that the Government hold out some hope that some of these present transactions will be discouraged by the Government?

Mr. Macpherson

I think that what the Prime Minister has already said will go some way towards achieving that object.