Dollar Securities and Shares (Treasury Holdings)

HC Deb 04 May 1965 vol 711 cc141-2W

Mr. Box

asked the Chancellor of the Exchequer why it is not the practice to publish details of the Treasury's holdings in dollar securities.

Mr. Callaghan

The management of a very large holding of this character, involving frequent operations on the Stock Market, is best conducted without publicity.

Mr. Box

asked the Chancellor of the Exchequer (1) what is the annual income derived by the Treasury from their dollar securities;

(2) whether he will publish details showing the annual income derived from each of the holdings of shares held by the British Government.

Mr. Callaghan

Details of the main items included in the annual Finance Accounts and the Departmental Appropriation Accounts for 1963–64 are as follows:—

	£
British Petroleum Co. Ltd.	15,750,049
Cable and Wireless Ltd.	1,407,900
Suez Finance Company and Suez Canal Investment Trust	265,280
Cunard Steamship Co. Ltd.	3
S.B. (Realisations) Ltd	4,000
Power Jets (Research and Development) Ltd.	50,000
British Sugar Corporation	52,500
Cowal Ari-Sawmilling Co. Ltd.	750

Dollar portfolio—details of the annual income are not published but the total is around $40 million. The above list excludes receipts from securities held by the Acquisition of Guaranteed Securities Fund, by the Iron and Steel Holding and Realisation Agency and by certain Government Departments as collateral for loans or advances.