§ 146. Mr. Randallasked the President of the Board of Trade if he is aware of the recapitalisation of cotton mills by financial trusts; and, as such recapitalisation is in conflict with the working party report, if he proposes to take steps to deal with the matter.
§ Sir S. CrippsWith my right hon. Friend the Chancellor of the Exchequer, I have, of course, paid attention to the transactions to which I assume my hon. Friend refers. They amount in essence to the sale to members of the public of share capital which was previously more narrowly held. I am not aware that such arrangements are in conflict with the report of the Cotton Working Party, and I see no reason, so far, to take any action in the matter.