§ 85. Sir M. Redmayneasked the Minister of Transport what directions have been given since October, 1964, to the Transport Holding Company, in respect of Her Majesty's Government's intentions that the company should expand the size and scope of its operation.
§ Mr. Tom FraserNone. But as I explained to the House on 17th May last, it is the Government's wish that the 183W Transport Holding Company should pursue an active policy of expansion where they consider it advantageous in the normal course of business.
§ 86. Sir M. Redmayneasked the Minister of Transport along what lines, settled with his approval, the Transport Holding Company is to finance the acquisition of private companies.
§ Mr. Tom FraserAs far as possible the Transport Holding Company uses its own resources to finance such acquisitions; otherwise, under present arrangements, it would borrow from me in accordance with the provisions of Section 29(11) of the Transport Act 1962. Such acquisitions are subject to my normal control over investment and borrowing.