HC Deb 08 March 1971 vol 813 cc28-9
34. Mr. Douglas

asked the Secretary of State for Trade and Industry if he will give details of the personnel in his Department who assist him in determining the timing of sales of Government-held assets and/or securities in the private and public sectors.

Mr. John Davies

I use Departmental and outside professional advice as circumstances require.

Mr. Douglas

The right hon. Gentleman will be aware that what is needed as a firm statement of the criteria which are in use in his Department for the valuation of shares and assets. Therefore, is he not aware that we need to know not only the quality and qualifications of the personnel in his Department, but how the House may question those outside the Department?

Mr. Davies

The hon. Gentleman fails to realise what a great variety of investments there is and the very different circumstances in which they were made, so that the establishment of universal criteria would be quite useless. This applies equally in the case of advisers. One would need different advisers for different classes of problem. But I assure the hon. Gentleman that there will be a full opportunity to put questions to my colleagues and myself when the time arises.