HC Deb 18 November 1969 vol 791 cc267-9W
131. Mr. Humphrey Atkins

asked the Chancellor of the Exchequer if he will detail all equity and other shareholdings in existing or newly-formed companies acquired since October, 1964 by the Government, public corporations, and official agencies, giving the date of acquisition,

Name of Company Date of Acquisition Main Activity Cost of Acquisition Current Market value if quoted at end October, 1969 Percentage which that holding represents of all similar holdings in Company Cumulative Dividend to end October, 1969
Additional Shareholdings
BP Ltd. 1966 Oil £31,154,000 £68,000,000 3. £7,662,933
Compagnie Financiere de suez 1969 Investment Holdings Nil§ £3,503,000 3. Nil

Mr. Taverne

Not all the information is available, but, with permission, I will circulate the available figures in the OFFICIAL REPORT. These will not include figures in respect of selective employment tax, which is not a net charge to manufacturing industry.

Following are the figures

the main activity of the company, the original value of the investment or purchase price, the estimated present value, the proportion which the holding represents of all similar holdings in the company, and the total interest or dividend to date.

Mr. William Rodgers

Following are the details:

Name of Company Date of Acquisition Main Activity Cost of Acquisition Current Market value if quoted at end October, 1969 Percentage which that holding represents of all similar holdings in Company Cumulative Dividend to end October, 1969
British Sugar Corporation Ltd 1964 Processing Sugar Beet Nil (Scrip Issue of 375,000 shares making total holdings of 1,125,00) £393,750 (of Scrip issue) 11. £90,781
New Acquisitions
Beagle Aircraft Limited 1968 Light Aircraft Industry £142,490* Unquoted 100. Nil
International Computers Limited 1968 Computers £3,500,000† £7,875,000 10. Nil
Upper Clyde Shipbuilders Ltd. Early 1966 Feb. 1968 Ship Building £1,500,000 (875,000 £1 Ordinary Shares received in exchange for the Government interest in Fairfields (Glasgow) Ltd. which cost £530,000 in 1966.) H.M.G. also hold £940,000 of Fairfields Loan Stock guaranteed by U.C.S. Unquoted 17.5‡ Nil
* Additional shares to the nominal value of £316,291, will be issued to the Minister under the terms of the transfer arrangements.
† Cost not yet fully paid up. Balance due 28th September, 1972.
‡ From the end of August, in view of a new Shipbuilding Industry Board holding, Government shareholding is under 11 per cent. in terms of voting power and a little over 5 per cent. in terms of entitlement to distributed profits.
§ A bonus issue of 1 for 5.
║ 0n additional holding of shares since scrip issue in 1964.

This table excludes a number of small groups of shares held by M.A.F.F. In mixed agricultural enterprises such as agricultural co-operatives—the total nominal value of these shares is very small.

The reports and accounts of the nationalised industries and official agencies give information about their acquisitions.