HC Deb 20 December 1954 vol 535 cc221-2W
91. Mr. Beswick

asked the Minister of Supply when he gave his permission for the Bristol Aeroplane Company to take a holding in the previously Government-owned aircraft company of Short Brothers of Belfast; what was the reason for giving this permission; and what is the nature of the holding.

Mr. Selwyn Lloyd

With the consent of my predecessor, the approval of the Capital Issues Committee was sought in June last to an increase in the issued share capital of Short Brothers and Harland Limited from £2 million to £2,360,000, and shortly afterwards 360,000 new £1 shares were sold to the Bristol Aeroplane Company. The Government retain a majority holding in Short Brothers and Harland Limited, which has never been entirely Government owned. I welcome this development as an extension of the collaboration between the two companies.