HC Deb 21 November 1946 vol 430 c174W
146. Mr. Randall

asked 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. Cripps

With 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.