HC Deb 30 April 1968 vol 763 c164W
72. Sir C. Osborne

asked the Chancellor of the Exchequer if he is aware that Gratton Warehouses recommended 20 per cent. final dividend, requiring £2,112,000, would exceed the Government's sanctioned limitation by £600, and that consequently it was altered to 19.9 per cent.; and if he will allow a deviation from the fixed limit to prevent such rates having to be paid in future.

Mr. Diamond

The maximum permissible increase in these circumstances is 3½ per cent. It would be invidious to try to differentiate between increases marginally in excess of the maximum.

76. Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer why he has insisted that Cammell Laird Limited and Lex Garages Limited should limit the increase in their distributions to shareholders to 3½ per cent., while approving increases in distributions of 30 per cent. by William Craine (Holdings) Limited, and of more than 4 per cent. by Burmah Oil Ltd.

Mr. Diamond

There were no exceptional circumstances in the cases of Cammell Laird Limited and Lex Garages Limited to justify an increase in excess of 3½ per cent. The Treasury has had no direct communication with William Craine (Holdings) Limited. The relevant distributions of Burmah Oil Limited did not exceed the 3½ per cent. limit.