HC Deb 19 May 1966 vol 728 cc1538-9
41. Mr. Weatherill

asked the President of the Board of Trade how many close companies have gone into liquidation since 1st January, 1966; and how these figures compare with the first quarter of 1965.

Mr. Jay

Separate statistics of the liquidation of close companies are not available.

Mr. Weatherill

Would not the right hon. Gentleman agree that there have been a very large number of liquidations and that these result directly from the provisions of the last Finance Act? Would not he also agree that the only crime which these companies appear to have committed is to have risked their own capital rather than that of a rather anonymous number of shareholders, that this is not a crime, and that they should be encouraged rather than put out of business?

Mr. Jay

Without statistics, I cannot judge whether that is true or not.

Mr. Stratton Mills

Could the right hon. Gentleman say why there are no statistics available?

Mr. Jay

Not without notice. But I gather that they have never yet been collected.

Mr. Barnett

Is it not a fact that the majority of such liquidations are in property and investment companies and not in normal trading companies?