§ Mr. Joel Barnettasked the Secretary of State for Energy, pursuant to his answer to the right hon. Member for Heywood and Royton on 28 March, Official Report, c. 28, if he will set out in the Official Report details of the arrangement made with Lazard Frères in respect of the appointment of Mr. Ian MacGregor as chairman of the National Coal Board and of the steps he has taken to satisfy himself that Mr. MacGregor will not benefit from the payment of £1,500,000 to Lazard Frères; and if he will make a statement.
§ Mr. John MooreI have already informed the House of the arrangements made with Lazard Frères in respect of the appointment of Mr. Ian MacGregor as chairman of the National Coal Board. Mr. MacGregor and the partners in Lazard Frères have agreed that the compensation of £1,500,000 paid to the partners will be excluded from the profits in calculating Mr. MacGregor's share of the profits of the partnership. Mr. MacGregor will therefore not benefit from that payment of £1,500,000 to Lazard Frères.