§ Mr. DarlingTo ask the Chancellor of the Exchequer if he will set out the terms of reference of the Treasury inquiry into the circumstances surrounding the sale of PowerGen and National Power stock in March; if he will 153W name the official who is conducting this inquiry; if the completed inquiry report will be published in full; and if he will make a statement. [28841]
§ Sir George Young[holding answer 15 June 1995]: The stock exchange has suggested further examination into the circumstances surrounding the Genco2 share sale, including the dissemination of information between various parts of the public sector and between the public sector and the market. Sir Terence Burns has asked Mr. John Beastall, a senior Treasury official and former Treasury officer of accounts, to take this work forward and draft the Treasury response. He has been asked to examine in detail the events surrounding the share sale and the role of all the parties involved and any lessons to be learned for future share issues by public authorities. Once the work has been completed, the Permanent Secretary, Sir Terence Burns, will respond to the stock exchange and, the response will be published.