§ 37. Mr. Douglasasked the Secretary of State for Trade and Industry if he will publish a White Paper on the methods of valuation of the shares and/or assets of public corporations which he is considering transferring to private enterprise.
§ Mr. John DaviesNo, Sir. But I shall, of course, see that the House is properly 26 informed about any sales that engage my responsibilities.
§ Mr. DouglasDoes the right hon. Gentleman accept that this is a matter of grave public importance and concern, in view of recent developments? Do not we need more information than has been given in the past and, in present circumstances, might possibly be given in the future? May I press the right hon. Gentleman to reconsider his answer and to give the House a White Paper setting out the terms upon which these vital assets might be sold to the private sector?
§ Mr. DaviesI am sympathetic to the hon. Gentleman's interest in the way in which these prices may be set in future. However, it is only fair to point out that the variety of problems in the industry is such that it makes the definition of all-embracing rules very difficult. I shall be concerned to see that this House is properly informed of the considerations applied in individual cases.
§ Mr. Frank AllaunIs the right hon. Gentleman aware that many hon. Members on these Benches believe that the next Labour Government should take back, without compensation, the most profitable publicly-owned assets which the present Government propose to sell off and that if any speculators burn their fingers in this respect they have only themselves to blame?
§ Mr. DaviesI find this constant reference to the word "speculators" deplorable—[Interruption.] To start with, the hon. Gentleman is speaking of what are purely hypothetical, not practical, considerations. The hon. Gentleman makes vague menaces about the future on issues of which he has no precise knowledge and then implies that these are involved with speculators with whom, equally, he has no acquaintance whatever.