Share Ownership

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 12th March 1992.

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Photo of Mr John Farr Mr John Farr , Harborough 12:00 am, 12th March 1992

To ask the Chancellor of the Exchequer what has been the change in the number of persons owning shares in the past five years.

Photo of Mr David Mellor Mr David Mellor , Putney

The number of adults in Great Britain owning shares has increased from about 8· million in 1987 to almost 10 million in 1992.

Photo of Mr John Farr Mr John Farr , Harborough

Does my right hon. and learned Friend agree that that transformation to share and home ownership under successive Conservative Governments has put us well on course to becoming a property and share-owning democracy?

Photo of Mr David Mellor Mr David Mellor , Putney

Yes. This major extension in popular capitalism has been one of our greatest achievements.

Photo of Mr Patrick Duffy Mr Patrick Duffy , Sheffield, Attercliffe

Did the Chief Secretary note that share and bond prices fell sharply following the presentation of the Budget? Has he also noted that the market is off a further 25 points this morning? Does not that first opinion poll suggest the thumbs down for the Budget?

Photo of Mr David Mellor Mr David Mellor , Putney

I think that the hon. Gentleman will find that all that is troubling the stock market is the thought of a Labour Government—a fear which we shall be in a position to put out of their heads quite quickly.