§ Mr. Nelsonasked the Secretary of State for Industry what is his policy with regard to the disposal of the Government's industrial holdings and the need to ensure that members of the public are given an opportunity to subscribe for shares in such enterprises.
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§ Mr. Michael MarshallThe Government are determined to reduce the extent of State ownership in industry and to promote the wider ownership of shares. So far as the enterprises for which the Department of Industry is responsible are concerned, the British Aerospace Act provides for the undertaking of British Aerospace to be vested in a successor company, shares in which will be offered for sale to the public including employees. All other possibilities for reducing State ownership are being considered and our intention is to enable members of the public to subscribe for shares wherever this is practicable and consistent with the Government's other objectives.