§ Mr. Craigenasked the Chancellor of the Exchequer if he will give the number of merchant banking and stockbroking firms currently advising and assisting Her Majesty's Government over the privatisation of public assets; how they were selected; and at what cost to public funds for their services.
§ Mr. MooreI am aware of seven merchant banks and 23 stockbrokers, including a number of regional firms, which following formal appointment, are currently advising or assisting Government Departments on possible future privatisations. More informal advice is also being received from a variety of sources. Except in exceptional circumstances, all formal appointments made direct by Government Departments take place following competition. It is too soon to say what the final cost will be of advice currently being tendered.