§ 3. Mr. MansTo ask the Chancellor of the Exchequer what is his latest estimate of the total number of shareholders in the United Kingdom.
§ The Paymaster General (Mr. Peter Brooke)Including holders of unit trusts, 10 million people own shares; 22 per cent. of the adult population.
§ Mr. MansI thank my right hon. Friend for that answer. Does he agree that increased share ownership is giving individuals a personal stake in the success of British industry? Will he encourage his right hon. Friends the Secretaries of State for Energy and for the Environment to include employee share ownership plans in the offers for sale of the electricity and water industries?
§ Mr. BrookeI unhesitatingly answer yes to my hon. Friend's first question. As to his second question, the Government welcome the opportunity which privatisation of the water and electricity industries will provide for employees to take a stake in the future of their company. My hon. and learned Friend the Minister responsible for water announced on 15 March that there will be special share offer arrangements for employees of the new water plcs, which will include free matching priority and possibly discount share offers. Further details will be announced in due course. Arrangements for employees of the electricity supply industry will be announced at a suitable date closer to the flotations of the electricity companies.
§ Mr. ButterfillHas my right hon. Friend noticed the recent opinion poll which shows that 20 per cent. of all adults in this country would be interested in buying electricity shares when the industry is privatised? That would amount to 6 million people, making it the most popular flotation ever achieved and one that is likely to be massively over-subscribed.
§ Mr. BrookeI have not seen the opinion poll to which my hon. Friend refers, although I have heard about it. I share his endorsement and reaction to it.