§ Mr. Dobsonasked the Chancellor of the Exchequer what was the total expenditure by his Department in 1980–81 and the estimated expenditure in 1981–82 on fees and commission to any outside bodies providing advice to, or acting as agents for, his Department in furtherance of the policy of privatisation of the assets of his Department or of nationalised industries or other bodies.
§ Mr. Ridley[pursuant to the reply, 30 November 1981, c. 18]: Shares held by the Treasury in three companies have been disposed of since the Government came into office:
- The British Petroleum Company Ltd.
- Cable and Wireless Ltd.
- The British Sugar Corporation Ltd.
Although the sale of the British Petroleum Company's shares took place in 1979–80, there was consequential Treasury expenditure in 1980–81 of some £1 million excluding VAT. Net Treasury expenditure in 1981–82 arising from the sale of Cable and Wireless shares has amounted to some £4 million excluding VAT and stamp duty. Details of fees and commission in relation to the sale of the Government's shares in the British Sugar Corporation Ltd., which were partly held by the Treasury, are being provided by my right hon. Friend the Minister of Agriculture, Fisheries and Food in reply to a similar question he has received from the hon. Member.