HC Deb 15 May 1959 vol 605 cc202-3W
Mr. D. Jones

asked the Minister of Housing and Local Government and Minister for Welsh Affairs, if he will publish in Hansard a list of the municipal authorities which have been authorised, either by local legislation or by the consent of his Department, to invest their superannuation fund moneys in equity shares.

Mr. H. Brooke

The county councils of London, Buckingham, Essex, Surrey and Kent and the county borough councils of Manchester, East Ham, Coventry, Rochdale and Wallasey have been granted powers by local Acts (subject to certain conditions) to invest a proportion of their superannuation fund moneys in equity shares; and similar powers are proposed in Bills at present before Parliament promoted by the county councils of Gloucester and Glamorgan, the common council of the City of London and the county borough councils of Portsmouth, Halifax and Bootle.

The London County Council (General Powers) Act, 1958, also gives these powers to such metropolitan borough councils as I may direct. So far, I have directed that these provisions should apply to eleven metropolitan borough councils—those of Chelsea, Hackney, Hampstead, Holborn, Kensington. Lambeth. Paddington, Poplar, St. Marylebone, St. Pancras and Westminster; and I am considering an application on behalf of Greenwich.