HL Deb 27 October 1997 vol 582 cc225-6WA
Lord Tebbit

asked Her Majesty's Government:

Which issues. companies and industries the Minister for Competitiveness in Europe cannot handle due to possible conflicts of interest.

The Minister of State, Department of Trade and Industry (Lord Simon of Highbury)

None, following the creation of a blind trust for my non-BP shareholdings and the sale of my BP shares after my public statement on 5 August. Prior to that date, arrangements were in place to ensure that no actual or perceived conflicts of interest could arise as a result of my private financial interests.

Lord Tebbit

asked Her Majesty's Government:

Whether they will list all shares held by Ministers in the Department of Trade and Industry on their appointment to office.

Lord Simon of Highbury

No. The Government have published the requirements on Ministers in the Ministerial Code; DTI Ministers are acting in accordance with these requirements. It has never been the practice of previous Ministers, including DTI Ministers, to publish details of their shareholdings, except in so far as this is required by the Register of Members' Interests; they have from time to time made public statements about their decision to stand aside from particular issues where that has been thought desirable in particular circumstances.

Lord Tebbit

asked Her Majesty's Government:.

What actions have been taken by Ministers in the Department of Trade and Industry (a) to sell shares, (b) to transfer shares to blind trusts or (c) to avoid conflict of interest with their shares since coming to office.

Lord Simon of Highbury

All the DTI Ministers have taken whatever steps were necessary to comply with the provisions of the Ministerial Code to ensure no conflict of interest between their public duties and private interests. This has included the sale of shares, the creation of a blind trust, or standing aside from a particular decision or discussions in order to avoid actual or perceived conflicts of interest.