§ 69. Mr. Arthur Lewisasked the Chancellor of the Exchequer (1) why he prevented Property Security Investment Trust Limited from implementing their promise made last January of increasing their final dividend payment from 4 per cent. To 5 per cent., whilst at the same time permitting other companies to increase their dividends under similar circumstances;
(2) why in some instances he has permitted companies to give increased dividends because of announcements of promises or intentions made prior to the Budget and at the same time he has prevented others in the same circumstances to make such payments; and whether he will give a list of companies in each such category until the latest convenient stated date.
§ Mr. DiamondThe forecast of its final dividend made by Property Security Investment Trust Limited did not constitute a binding commitment; it was accordingly asked, in common with many other companies, to restrict payment to a level consonant with the voluntary dividend restraint scheme.