§ 31. Mr. Tilneyasked the Chancellor of the Exchequer why the Treasury recommended that the dividend by Crosby Spring Interiors of 28½ per cent. for the year to 31st March, 1968, should be cut to 28.4625 per cent., thereby reducing the distribution to the shareholders from £61,479 to £61,398.
§ Mr. TaverneThe company agreed to confine the increase proposed in its dividend to 3½ per cent. above the amount for the previous year.
§ Mr. TilneyFor the sake of accuracy, the reduction is of £81 to the first named figure. Is this the best use of Treasury brain power?
§ Mr. TaverneThis is a difficult problem. I realise that the adjustment here was a minor and, in many ways, an irritating one, but it would increase the difficulties enormously if one started arguments about how much above the permitted maximum a particular company was allowed.