§ 95. Sir H. Legge-Bourkeasked the First Secretary of State and Secretary of State for Economic Affairs whether he will state the reasons, commercial and non-commercial, for the backing by the Industrial Re-organisation Corporation of the merger between English Electric and Elliott Automation; and what steps he is taking to ensure that the shareholders concerned are fully acquainted with the expenditure by English Electric on electronics and the profits accruing therefrom.
§ Mr. Harold LeverThe Corporation itself decides, in the light of the functions given to it by the Industrial Reorganisation Corporation Act, whether to support particular proposals for mergers. It is not for my right hon. Friend to state their reasons or to see that shareholders receive information about particular companies.