HC Deb 23 January 1975 vol 884 c433W
Mr. Rost

asked the Chancellor of the Exchequer whether he requires parliamentary approval in order to increase Her Majesty's Government's equity participation in British Petroleum into a majority shareholding; and, if not, under what existing statutory powers he is able to act.

Mr. Dell

Parliamentary approval would have to be sought.

Mr. Rost

asked the Chancellor of the Exchequer whether he has any plans to increase Her Majesty's Government's equity participation in British Petroleum from the current minority shareholding to a majority shareholding.

Mr. Dell

It would require very careful consideration. My right hon. Friend the Secretary of State for Energy is making a statement this afternoon about the purchase by the Bank of England of the Burmah shareholding in BP. That purchase does not increase Her Majesty's Government's participation.