§ Mr. Thorperose—
§ Mr. SpeakerI call the hon. Member for Blyth (Mr. Milne) to make an application under Standing Order No. 9 of which he gave me notice before the right hon. Member for Devon, North (Mr. 50 Thorpe) gave notice of his intention to make a similar application.
§ Mr. MilneI beg to move the Adjournment of the House under Standing Order No. 9 for the purpose of debating a specific and important matter which should have urgent consideration, namely, the takeover bid offers by the Beecham Group Limited for Glaxo Laboratories and the subsequent proposed amalgamation announced by the Glaxo Group Limited and Boots Pure Drug Company Limited which had been under discussion at the time of the Beecham takeover bid.
This is a specific matter because it concerns the future of the drug, chemical and pharmaceutical industry in this country, and it is important because of the refusal of the Secretary of State for Trade and Industry to refer the Beecham bid to the Monopolies Commission. As I said at Question Time, it represents city buccaneering at its worst, of which the right hon. Gentleman of course has an immense amount of first-hand knowledge.
The importance of the matter is underlined because of its effect on development district expansion arising from the vertical integration of Boots and Glaxo which in our view would give maximum opportunity for growth in the development districts. Matters in relation to the Health Service and the matters we have mentioned are vital, indeed.
I want to be brief and to deal in only two sentences with the urgency of the matter. The battle that is about to take place in the city could be very damaging to the economy of this country, and whilst the Government are appealing to the mining industry to accept meagre wage increases, speculators in the City of London will be making more by using two telephones than by using two hands. Therefore, for the reasons that I have stated, I ask you to adjourn the House in order that this matter may be debated.
§ Mr. SpeakerI am grateful to the hon. Member for Blyth (Mr. Milne) for his courtesy in giving me notice before 12 o'clock of his intention to seek leave to move the Adjournment of the House. This gave me an opportunity to consider the matter. I have also considered the exchanges at Question Time, but I am afraid that I cannot give the hon. Member's application precedence.