The responsibility for reporting political donations rests with the companies making them. Under section 234 and schedule 7 to the Companies Act 1985, parent companies are obliged to disclose in the directors' report political donations exceeding £200 in aggregate made by it and all its subsidiaries, including foreign ones. I have no plans for any further review.
I congratulate my hon. Friend on the staggering wisdom of his last reply. Will he confirm that during the 1980s British industry, under Conservative policies, grew faster than industry in any other country? Under Conservative policies, British industry is now coming out of recession faster than industry in any other country. Does that not show that investment in the Conservative party is a sound commercial decision and the best investment that companies can ever make and that investment in any other party is the shortest route to bankruptcy yet devised by man?
I agree with my hon. Friend. It is staggering that the Labour party has still not learnt the lesson that improved competitiveness is the way to increase employment. As Labour Members are incapable of learning that lesson, they will never be in a position to form the Government of this country.
Is the Minister aware that, in response to parliamentary questions about 41 quangos that I tabled last year, we were told that 127 members of those bodies were connected with companies that donate to the Tory party? Is it not clear that what is going on is an auction for places on quangos— appointments in return for donations to the Conservative party?