HC Deb 06 February 1962 vol 653 cc223-4
Q3. Mr. Emrys Hughes

asked the Prime Minister if he will consider making a new rule for members of the Cabinet that they should not benefit financially from capital gains made from mergers and take-over bids.

The Prime Minister

I am satisfied that the long-established practice covers both the honour and duty of Ministers.

Mr. Hughes

Has the Prime Minister not seen the calculation that one member of the Government has had an increase of £25,000 as a result of the I.C.I. offer to Courtaulds? Does he think that is a desirable state of affairs when he is calling for a pay pause in other directions?

The Prime Minister

If the hon. Member is making a reference by innuendo to the Home Secretary, I must say that I think this is unworthy of him. He has been often a severe but always a fair critic. Everybody knows the long connection of my right hon. Friend with Courtaulds—a family connection. I can only say that on any occasion in Cabinet or in other Ministerial meetings when this matter has been under discussion my right hon. Friend has absented himself from those meetings.

Hon. Members

Withdraw.