British Industry (Foreign Investment)

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 23 June 1964.

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Photo of Mr James Callaghan Mr James Callaghan Shadow Chancellor of the Exchequer, Member, Labour Party National Executive Committee 12:00, 23 June 1964

Is it not a fact that if this undertaking were not kept through the sale by Rootes of shares to someone else there would be nothing in the Exchange Control Act to prevent Chrysler from purchasing shares and so acquiring control of Rootes?