Part of the debate – in the House of Commons at 9:20 pm on 23rd January 1992.

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Photo of John Reid John Reid , Motherwell North 9:20 pm, 23rd January 1992

Let us suppose that that mythical chap did come along and that the share value stayed at its current level—because it was known that there was a buyer, it might double or even treble—but let us suppose that, against all the evidence from the history of the market, the share value remained static. The buyer would still have to spend £1.7 billion on top of the share value simply to make it productive.