British Sugar Corporation (Assets)

Oral Answers to Questions — Scotland – in the House of Commons at 12:00 am on 2nd February 1972.

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Photo of Gavin Strang Gavin Strang , Edinburgh East 12:00 am, 2nd February 1972

asked the Secretary of State for Scotland what further representations he has received regarding his responsibilities in relation to the disposal of the assets in Scotland of the British Sugar Corporation.

Photo of Mr Alick Buchanan-Smith Mr Alick Buchanan-Smith , North Angus and Mearns

My right hon. Friend has no such responsibilities.

Photo of Gavin Strang Gavin Strang , Edinburgh East

Does the hon. Gentleman accept that it would be a sorry state of affairs if the corporation were to dispose of these assets for a figure substantially less than that at which it was to sell to the private consortium which at one time was interested in growing sugar beet in Scotland?

Photo of Mr Alick Buchanan-Smith Mr Alick Buchanan-Smith , North Angus and Mearns

Yes, Sir, but the hon. Gentleman must realise that the corporation has a clear commercial incentive to act in the best interests of its shareholders and that the Government are in no different position from that of other shareholders.