§ Mr. Adleyasked the Secretary of State for Industry under what legislation he is empowered to write to private individuals seeking information on their shareholdings on a form entitled "Survey of Company Share Registers"; how many letters and forms have been sent out; how recipients are selected; what happens to the information; how much this exercise is costing; how long it will continue; and if he will stop it forthwith as a departmental contribution to cutting public expenditure.
§ Mr. Les HuckfieldThe inquiry is a voluntary one. About 3,500 letters and forms have been sent out. The addressees have been selected from company share registers as a representative sample of personal shareholders. The information will be used to estimate the extent to which personal shareholders are acting as trustees for other categories of beneficial holders. The cost of his postal inquiry including processing is approximately £3,500. All the letters have now been sent out and replies are being received, the vast majority of which are cooperative. The inquiry is designed to produce valuable information and I cannot agree that it should be terminated.