§ 72. Sir C. Osborneasked the Chancellor of the Exchequer if he is aware that Gratton Warehouses recommended 20 per cent. final dividend, requiring £2,112,000, would exceed the Government's sanctioned limitation by £600, and that consequently it was altered to 19.9 per cent.; and if he will allow a deviation from the fixed limit to prevent such rates having to be paid in future.
§ Mr. DiamondThe maximum permissible increase in these circumstances is 3½ per cent. It would be invidious to try to differentiate between increases marginally in excess of the maximum.
§ 76. Mr. Bruce-Gardyneasked the Chancellor of the Exchequer why he has insisted that Cammell Laird Limited and Lex Garages Limited should limit the increase in their distributions to shareholders to 3½ per cent., while approving increases in distributions of 30 per cent. by William Craine (Holdings) Limited, and of more than 4 per cent. by Burmah Oil Ltd.
§ Mr. DiamondThere were no exceptional circumstances in the cases of Cammell Laird Limited and Lex Garages Limited to justify an increase in excess of 3½ per cent. The Treasury has had no direct communication with William Craine (Holdings) Limited. The relevant distributions of Burmah Oil Limited did not exceed the 3½ per cent. limit.