Privatisation Proceeds

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 13th March 1997.

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Photo of Mr William Waldegrave Mr William Waldegrave , Bristol West 12:00 am, 13th March 1997

No, it does not show any such thing. If we cast our minds back, on each of those occasions the Labour party either said that such businesses could not be privatised or would not be sold—or it tried to talk the market down. The hon. Gentleman helpfully makes another point, which is that the Labour party's proposed so-called windfall tax is based on the idea that there was a windfall—some 15 years ago in many cases. How one taxes the present shareholders to catch up with an alleged windfall 10 years ago is rather odd.