HOW THU BUYS
Page 29
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EEXPLAINING last week •how the Transport Holding Company financed the acquisition of private companies, Mr. Fraser said that as far as possible it used its own resources.
Otherwise, under present arrangements it would borrow from him in accordance with the provisions of the Transport Act, 1962. These acquisitions, noted the Minister, were subject to his normal control over investment and borrowing. Sir Martin Redmayne, Tory Front Bench spokesman on transport, who had raised the subject in the Commons, also wanted to know what directions had been given since October, 1964 to the THC in respect of the Government's intentions that the company should expand the size and scope of its operations.
None, answered Mr. Fraser, but it was the Government's wish that the company should pursue an active policy of expansion where it was considered advantageous in the normal course of business.