§ 12. Sir John FarrTo ask the Chancellor of the Exchequer what has been the change in the number of persons owning shares in the past five years.
§ Mr. MellorThe number of adults in Great Britain owning shares has increased from about 8. million in 1987 to almost 10 million in 1992.
§ Sir John FarrDoes my right hon. and learned Friend agree that that transformation to share and home ownership under successive Conservative Governments has put us well on course to becoming a property and share-owning democracy?
§ Mr. MellorYes. This major extension in popular capitalism has been one of our greatest achievements.
§ Sir Patrick DuffyDid the Chief Secretary note that share and bond prices fell sharply following the presentation of the Budget? Has he also noted that the market is off a further 25 points this morning? Does not that first opinion poll suggest the thumbs down for the Budget?
§ Mr. MellorI think that the hon. Gentleman will find that all that is troubling the stock market is the thought of a Labour Government—a fear which we shall be in a position to put out of their heads quite quickly.