HC Deb 11 December 1922 vol 159 c2402W

asked the President of the Board of Trade whether, in view of the conditions in industry and the suspicion engendered, not only between employer and employed, but also between the consumer and producer, owing to the inadequacy of the information contained in the accounts of joint stock companies, he will consider the advisability of amending the company laws, in order to ensure the publication of adequate information regarding costs and profits?


The question of compelling public companies to include a profit and loss account in the balance sheet which has to be filed annually with the Registrar of Companies received the consideration of Company Law Amendment Committees which reported in the years 1906 and 1918 and recommended that a statement of profit and loss should not be required. I do not think it is advisable to introduce legislation at the present time to amend the Company Law on the lines suggested by the hon. Member.