HL Deb 14 July 1987 vol 488 cc921-2

2.37 p.m.

Lord Williams of Elvel

My Lords, I beg leave to ask the Question standing in my name on the Order Paper.

The Question was as follows:

To ask Her Majesty's Government when they expect to publish the report of the Department of Trade and Industry inspectors' inquiry into Guinness plc.

The Secretary of State for Trade and Industry (Lord Young of Graffham)

My Lords, the question of the publication of the inspectors' report on Guinness plc cannot be considered until the report has been received. The Government are aware of the strong public interest in the investigation and wish to publish the report as soon as possible but publication may have to be delayed if criminal proceedings are either being considered or pending.

Lord Williams of Elvel

My Lords, I am grateful to the noble Lord, the Secretary of State, for his response and for his assurance that the report will be published. Is he aware that it is now fairly common knowledge that sections of the report are being shown by the inspectors to interested parties —as is correct procedure—and therefore it must be getting near the publication date? Will he also take the opportunity of giving the House the assurance that any wrongdoers will be properly pursued?

Lord Young of Graffham

My Lords, I can assure all in your Lordships' House that when I receive the report I shall read it carefully and take such action as seems to me appropriate at that time.

Lord Taylor of Gryfe

My Lords, may I declare an interest in this matter since I am associated with one of the companies concerned in the inquiry. However, can I invite the Minister to take on board the urgency of the matter since uncertainty hanging over companies and individuals does no good to them or to the reputation of the City?

Lord Young of Graffham

My Lords, yes, I am grateful to the noble Lord. I am fully aware of the urgency of this matter. I am fully aware of the effect it will have on the reputation of the City. I believe that it is a matter which should be dealt with as expeditiously as is consistent with justice.

Lord Bruce of Donington

My Lords, will the noble Lord give the House an assurance that if the results of the inquiry show prima facie evidence of wrong-doing, the Government will make adequate resources available to the Director of Public Prosecutions thus avoiding the disgraceful situation that arose in the consideration of the Cameron-Webb case where it was stated from the Woolsack that prosecution was not proceeded with because of lack of resources?

Lord Young of Graffham

My Lords, I shall fully accept responsibility for all matters concerning my department or under my control. In the matter of the inquiry into Guinness plc, I can assure all your Lordships' House that everything will be dealt with, I hope, in the true interests of all parties involved.

Lord Graham of Edmonton

My Lords, when the report is finally published, does the Secretary of State expect it to contain recommendations which will give the public any confidence that the derisory fine enjoyed by Mr. Collier, convicted of insider dealing, will not be repeated?

Lord Young of Graffham

My Lords, I do not think it appropriate that I should comment on a judicial sentence.

Lord Harmar-Nicholls

My Lords, will my noble friend resist—as I know he will—the sublimation behind these questions which make certain that there are wrongdoers on any great scale? Perhaps he will consider the matter as though he had not heard the implication behind the questions that have been put.

Lord Young of Graffham

My Lords, my noble friend has that assurance.

The Earl of Halsbury

My Lords, is the noble Lord aware that, as an ex-director and shareholder concomitantly of Distillers Company and now a shareholder in Guinness, I await the development of events with equanimity?

2.40 p.m.