HC Deb 30 January 1961 vol 633 cc585-6
50. Mr. Shinwell

asked the Lord Privy Seal if he will now state the policy of Her Majesty's Government on the sale of Krupps' holdings in West Germany.

Mr. Heath

As has already been announced, the Mixed Committee of Experts has granted a further extension of time until 31st January. 1962. for the disposal of the Krupp coal and steel assets.

Mr. Shinwell

While this discussion about the sale of the Krupp's holdings has been going on for the past eight years, has the right hon. Gentleman observed that Her Majesty's Government have agreed to a further extension of time? Is it not now becoming obvious that the Government and our allies primarily concerned about this matter have no intention of realising these holdings but intend that they should be retained by Krupp? Is he aware that the Labour Government, having considered the matter from all its aspects, decided that the Krupp's holdings should be retained as a national concern in Germany?

Mr. Heath

The Mixed Committee of Experts operates under the terms of the Bonn Settlement Convention, and it could not have granted an extension of time to 1962 unless it was satisfied that reasonable efforts to sell had been made and that no satisfactory offer to buy had been received.