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Local Authorities' Investments

Volume 885: debated on Friday 31 January 1975

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asked the Secretary of State for the Environment whether he will issue a circular or other advice to local authorities advising them not to expend public moneys on the acquisition of shareholdings or any other interest in holiday and travel firms.

No; but it is for local authorities to decide whether any particular increase in expenditure can be classed as an inescapable commitment within the terms of my Department's Circular 171/74.