Transport Holding Company Bill

Part of the debate – in the House of Commons at 12:00 am on 16 January 1968.

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Photo of Mr Alex Lyon Mr Alex Lyon , City of York 12:00, 16 January 1968

The hon. Member for Weston-super-Mare (Mr. Webster) has twice made the point that the shareholders of B.E.T. are pension funds, yet he began his remarks by saying that this Bill is an inflationary proposal because the money that will be paid out to the shareholders will be used in consumer expenditure. How can he combine both those points, if the pension funds, almost by obligation, will have to reinvest in other forms of security?