§ Sir F. WISEasked the Chancellor of the Exchequer whether he is now in a position to state the terms of the recent sale of Government property at Rich-borough to the firm of Messrs. Pearson and Dorman, Long, Limited; whether, during the negotiations for sale, the questions of promoting employment locally and of developing the Port of Rich-borough were discussed and, if so, whether he will state any decisions reached?
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Mr. GUINNESSIt has been provisionally agreed that the Government property at Richborough shall be sold to the firm of Messrs. Pearson and Dorman, Long, Limited, subject to the passing of a Bill in Parliament, the necessary steps to proceed with which have now been taken. The firm, having signed Heads of Agreement, entered into possession of the property as licensees on the 16th February, 1925. Messrs. Pearson and Dorman, Long, Limited, have, it is understood, acquired large mining interests in the neighbourhood of Rich-borough, and the acquisition by the firm of Richborough will, there is reason to hope, promote employment locally, and tend to the development of the port.