HC Deb 24 January 1967 vol 739 cc223-4W
46. Mr. Pavitt

asked the Chancellor of the Exchequer why Her Majesty's Government's 10 per cent. interest in Amerada was sold; and if he will make a statement.

Mr. Callaghan

The sale of Her Majesty's Government's interest in Amerada last April was carried out in pursuance of our policy of converting the Government's portfolio of dollar securities into more liquid form.