§ Mr. Wallaceasked the Chancellor of the Exchequer what arrangements have been made for the further sale of Government-held shares in British Petroleum plc; and if he will make a statement.
§ Mr. Norman LamontI announced on 18 March at column 1011 that, subject to market conditions, the Government will sell their remaining shareholding in British Petroleum during this financial year. The proceeds will be received in instalments, of which the first will be in 1987–88. The Government have appointed N M Rothschild and Sons Ltd. as their main financial advisers and are discussing arrangements for the sale with them and with British Petroleum. Further announcements will be made in due course.