Electricity Privatisation

Oral Answers to Questions — Energy – in the House of Commons at 12:00 am on 17th June 1991.

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Photo of Mr John Marshall Mr John Marshall , Hendon South 12:00 am, 17th June 1991

To ask the Secretary of State for Energy if he will estimate how many individuals became shareholders as a result of electricity privatisation in England and Wales.

Photo of Mr John Wakeham Mr John Wakeham , Colchester South and Maldon

Some 5 million to 6 million individuals became shareholders in the privatised electricity companies in England and Wales. A recent survey, not yet completed, has estimated that of these some 10 per cent. are new shareholders.

Photo of Mr John Marshall Mr John Marshall , Hendon South

May I congratulate my right hon. Friend on successfully concluding the privatisation of the electricity industry which will lead to greater efficiency and keener pricing? Will he bring to the attention of those many millions of shareholders the confiscatory attitude of the Labour party?

Photo of Mr John Wakeham Mr John Wakeham , Colchester South and Maldon

I am grateful to my hon. Friend. However, not only the shareholders would suffer loss if the Labour party ever achieved power. The consumers of electricity, the employees of the company, the taxpayers and, indeed, the environment would lose.