§ 32. Mr. Jayasked the President of the Board of Trade whether Her Majesty's Government has yet decided its policy toward industrial mergers and monopolies.
§ Mr. N. MacphersonNo, Sir. As my right hon. Friend has already told the House, he doubts whether the comprehensive review of policy and legislation on monopolies and restrictive practices will be completed before the end of the year. He will also need time to study the results of the review.
§ Mr. JayAs it is now six months since we debated the question of I.C.I. and Courtaulds and the whole question of mergers, is not this a subject on which the Board of Trade can tell us how soon it will take a decision?
§ Mr. MacphersonNo, Sir. I am not in a position to make a statement.
§ Mr. WadeWhile recognising that every industrial merger is not necessarily contrary to the economic interests of the country, will the hon. Gentleman agree that a number of mergers are tending 946 to create a monopoly and neither the Monopolies Commission nor the Restrictive Trade Practices Court are constituted to deal with this problem? There is a gap in the law, as I have pointed out before. Is it the intention of the Government to do anything about it?
§ Mr. MacphersonThose are precisely the questions which are being studied at present.