HC Deb 21 October 1966 vol 734 cc89-90W
Mr. Dickens

asked the Chancellor of the Exchequer what steps he is taking to ensure that unit trusts comply with the dividend standstill.

Mr. MacDermot

Many unit trusts do not have the power to withhold income from distribution to unit holders, but as this income consists of dividends received from their investments they will automatically be affected by the dividend standstill, though there may be timing differences.

Mr. Dickens

asked the Chancellor of the Exchequer if he will state the result of his discussions with those public companies which announced increased dividends before 20th July, and were payable after that date, naming those companies which have, and have not, agreed to rescind the increased dividend.

Mr. Diamond

The full results of the dividend standstill to date were given in reply to my hon. Friend the Member for West Ham, North (Mr. Arthur Lewis) on 20th October.

Mr. Dickens

asked the Chancellor of the Exchequer how many close companies, public and private, as defined by the Finance Act, 1965, are currently in operation; and how many have increased their dividend, or announced increases, since 20th July, 1966.

Mr. Callaghan

No separate record is available of close companies as such.