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Chief Secretary To The Treasury (Speech)

Volume 656: debated on Tuesday 27 March 1962

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Q5.

asked the Prime Minister if the speech in London of the Chief Secretary to the Treasury at the conference to promote wider share ownership, on 20th March, represents the policy of Her Majesty's Government.

My right hon. Friend the Chief Secretary to the Treasury's remarks at the opening of this conference were certainly in accordance with Government policy.

Can the Prime Minister explain why this exposition of Government policy inspired such a vicious and indignant attack on the Government by the Chairman of the Stock Exchange and the assembled bankers?

I have known expositions of Government policy which have not always been acceptable in every quarter. I think that my right hon. Friend the President of the Board of Trade made a very good reply.

If the Government are interested in promoting wider share ownership, why are they constantly selling off the public snares in British industry to private interests?

That seems to be exactly one of the methods by which public ownership becomes wider.