HC Deb 31 January 1967 vol 740 cc43-4W
66. Mr. Frank Allaun

asked the Chancellor of the Exchequer why the Government have permitted their holdings in British Petroleum to be reduced below 51 per cent.

Mr. Callaghan

Because it makes no difference to the effective Government control of British Petroleum. To have kept a holding of more than 50 per cent. would have involved raising an additional large sum of money.