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Mr J Rickford (Correspondence)

Volume 77: debated on Thursday 18 April 1985

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asked the Secretary of State for Trade and Industry whether he will publish in the Official Report the letter sent by Mr. J. Rickford of his Department to the United States Securities and Exchange Commission about compensation in the event of nationalisation.

asked the Secretary of State for Trade and Industry whether the letter written by Mr. J. Rickford of the Department of Trade and Industry to the United States Securities and Exchange Commission represents the Government's policy in relation to fair compensation for United Kingdom citizens whose assets have been nationalised.

Mr. Rickford's letter is a statement of the legal protection available for purchasers of BT shares. It is not a statement of policy. The Government's policy on compensation to former owners of aircraft and shipbuilding assets nationalised under The Aircraft and Shipbuilding Industries Act 1977 remains as stated by my right hon. Friend the then Secretary of State for Industry on 7 August 1980.