§ Mr. Staintonasked the Secretary of State for Prices and Consumer Protection if, in view of the difficulties for medium-sized companies in obtaining services appropriate to their needs as a result of the increasing polarisation of the United Kingdom accounting profession, he will refer to the Monopolies Commission the proposed triple merger of accountants Whinney Murray and Turquands Barton Mayhew and the United States firm Ernst and Ernst.
§ Mr. John FraserA merger only qualifies for investigation under the Fair Trading Act 1973 if, as a result, the enterprise supplies one quarter of the relevant market in the United Kingdom or in a substantial part of the United Kingdom, or if the value of the assets taken over exceeds £5 million. I understand that the Director General of Fair Trading is satisfied that the transaction between the companies involved does not meet either of these requirements. No question of a reference to the Monopolies and Mergers Commission therefore arises.