§ Mrs. Ann Clwyd
asked the Prime Minister what advice was issued to Ministers, prior to privatisation of British Telecom, about participation by Ministers in the purchase of shares in British Telecom.
§ The Prime Minister
Those Ministers most closely involved in the flotation of British Telecom were told that it would be ill-advised to apply for BT shares at the time of flotation. Other Ministers were advised that there was no general bar on applying for shares, subject to the normal requirement that there should be no conflict of interest.
Ministers were also advised that subsequent purchases of BT shares came under the general guidance given to Ministers on taking office.