§ 2.35 p.m.
§ [The Question was as follows:
§ To ask Her Majesty's Government whether with regard to exports they will define the line of demarcation between the responsibility of the managing director of a public company to conserve the finances of his company and the inclination which he personally may have to increase exports at financial sacrifice to the shareholders.]
§ THE MINISTER WITHOUT PORTFOLIO (LORD MILLS)
My Lords, it is not for Her Majesty's Government to define or interpret the responsibilities of managing directors of public companies, which are a matter of law. In formulating their export sales policy wise directors will no doubt take into account the extent to which the future prosperity and growth of their company may depend on broadening the base of its operations by taking advantage of the sales opportunities which export markets afford, even though this may on occasion involve some immediate financial sacrifice.