Commonwealth Development Corporation Bill — Sale of shares or other securities — 14 Jul 1999

Postponed proceedings resumed.

(a) in disposing of shares or other securities held by him; or

(b) in directing a person to dispose of shares or other securities held on the Secretary of State's behalf

to ensure that the price obtained for those shares or other securities is in the best commercial interests of the Corporation.'.-- [Mrs. Gillan.]

Brought up, and read the First time.

I beg to move, That the clause be read a Second time.

At this late hour, it is fitting that we return to consideration of the Bill and I am pleased to see the Secretary of State in her place. I understand that she will reply to the debate on the new clause. During the stages of the Bill, the Opposition have been greatly concerned about the way in which the shares and securities in the new Commonwealth Development Corporation will be disposed of and, in particular, the price that will be achieved. None of the replies given during our proceedings on the Bill so far has reassured me that the best possible price will be obtained for the sale of the Commonwealth Development Corporation.

The new clause reflects those concerns, because we need to ensure that the price obtained is the best possible, and that the CDC is not sold off cheaply at a knock-down price.

Clare Short:

Unlike your performance.

Surely exceptional costs are one-off costs, but if they are expected to continue over the next few years they must have an implication for the privatisation of this company and the price that will be paid. At this stage, the Secretary of State should let us know exactly what those costs will be and why they will continue over the next few years. They are exceptional if they are continuing annually. Light needs to be shed on that.

Question put, That the clause be read a Second time:--

The House divided: Ayes 21, Noes 293.

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All Votes Cast - sorted by party

MPs for which their vote in this division differed from the majority vote of their party are marked in red. Also shows which MPs were ministers at the time of this vote. You can also see every eligible MP including those who did not vote in this division.

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NameConstituencyPartyVote
Crispin BluntReigateCon (front bench)aye
Tim BoswellDaventryCon (front bench)aye
Graham BradyAltrincham and Sale WestCon (front bench)aye
Mr Peter BrookeCities of London and WestminsterCon (front bench)aye
Michael FabricantLichfieldCon (front bench)aye
Eric ForthBromley and ChislehurstContellaye
Edward GarnierHarboroughCon (front bench)aye
Dame Cheryl GillanChesham and AmershamCon (front bench)aye
Philip HammondRunnymede and WeybridgeCon (front bench)aye
Mr Nick HawkinsSurrey HeathConaye
Douglas HoggSleaford and North HykehamConaye
Gerald HowarthAldershotCon (front bench)aye
Robert JacksonWantageConaye
Eleanor LaingEpping ForestCon (front bench)aye
Edward LeighGainsboroughCon (front bench)tellaye
Julian LewisNew Forest EastCon (front bench)aye
David LidingtonAylesburyCon (front bench)aye
David MacleanPenrith and The BorderConaye
Anne McIntoshVale of YorkCon (front bench)aye
John StanleyTonbridge and MallingCon (front bench)aye
Gary StreeterSouth West DevonCon (front bench)aye
David TredinnickBosworthCon (front bench)aye
George YoungNorth West HampshireCon (front bench)aye
Mrs Irene AdamsPaisley NorthLab (minister)no
Nick AingerCarmarthen West and South PembrokeshireLabno
Douglas AlexanderPaisley SouthLabno
Graham AllenNottingham NorthLab (minister)no
Janet AndersonRossendale and DarwenLab (minister)no
Ms Candy AthertonFalmouth and CamborneLabno
Charlotte AtkinsStaffordshire MoorlandsLabno
John AustinErith and ThamesmeadLabno
Mr Harry BarnesNorth East DerbyshireLabno
Kevin BarronRother ValleyLab (minister)no
Hugh BayleyCity of YorkLab (minister)no
Mr Nigel BeardBexleyheath and CrayfordLabno
Margaret BeckettDerby SouthLab (minister)no
Anne BeggAberdeen SouthLab (minister)no
Mr Tony BennChesterfieldLabno
Joe BentonBootleLab (minister)no
Mr Gerry BerminghamSt Helens SouthLabno
Mr Harold BestLeeds North WestLabno
Clive BettsSheffield, AttercliffeLab (minister)no
Liz BlackmanErewashLabno
Mr Paul BoatengBrent SouthLab (minister)no
Mr Keith BradleyManchester, WithingtonLab (minister)no
Mr Peter BradleyThe WrekinLabno
Ben BradshawExeterLab (minister)no
Russell BrownDumfriesLab (minister)no
Des BrowneKilmarnock and LoudounLab (minister)no
Karen BuckRegent's Park and Kensington NorthLab (minister)no
Colin BurgonElmetLabno
Mrs Christine ButlerCastle PointLabno
Richard CabornSheffield CentralLab (minister)no
Alan CampbellTynemouthLab (minister)no
Mrs Anne CampbellCambridgeLabno
Mr Dale Campbell-SavoursWorkingtonLab (minister)no
Mr Jamie CannIpswichLabno
Mr Ivor CaplinHoveLabno
Mr Roger CasaleWimbledonLabno
Martin CatonGowerLab (minister)no
Ian CawseyBrigg and GooleLabno
Ben ChapmanWirral SouthLabno
David ChaytorBury NorthLabno
Michael ClaphamBarnsley West and PenistoneLabno
Dr David ClarkSouth ShieldsLabno
Ms Helen ClarkPeterboroughLabno
Paul ClarkGillinghamLabno
Charles ClarkeNorwich SouthLab (minister)no
Tom ClarkeCoatbridge and ChrystonLabno
Mr Tony ClarkeNorthampton SouthLabno
David ClellandTyne BridgeLab (minister)no
Ann ClwydCynon ValleyLab (minister)no
Vernon CoakerGedlingLabno
Ann CoffeyStockportLabno
Harry CohenLeyton and WansteadLabno
Mr Iain ColemanHammersmith and FulhamLabno
Mr Tony ColmanPutneyLabno
Michael ConnartyFalkirk EastLab (minister)no
Frank CookStockton NorthLabno
Jeremy CorbynIslington NorthLabno
Jim CousinsNewcastle upon Tyne CentralLabno
Mr Tom CoxTootingLabno
David CrausbyBolton North EastLab (minister)no
Ann CryerKeighleyLabno
John CryerHornchurchLab (minister)no
Jim CunninghamCoventry SouthLab (minister)no
Mr Tam DalyellLinlithgowLabno
Alistair DarlingEdinburgh CentralLab (minister)no
Mr Keith DarvillUpminsterLabno
Mrs Valerie DaveyBristol WestLabno
Ian DavidsonGlasgow PollokLab (minister)no
Mr Terry DavisBirmingham, Hodge HillLabno
Mr Hilton DawsonLancaster and WyreLabno
Janet DeanBurtonLabno
Andrew DismoreHendonLabno
Jim DobbinHeywood and MiddletonLabno
Brian H DonohoeCunninghame SouthLab (minister)no
Frank DoranAberdeen CentralLabno
Jim DowdLewisham WestLab (minister)no
David DrewStroudLab (minister)no
Maria EagleLiverpool, GarstonLab (minister)no
Clive EffordElthamLab (minister)no
Louise EllmanLiverpool, RiversideLab (minister)no
Jeff EnnisBarnsley East and MexboroughLabno
Bill EtheringtonSunderland NorthLabno
Jim FitzpatrickPoplar and Canning TownLabno
Ms Lorna FitzsimonsRochdaleLabno
Caroline FlintDon ValleyLab (minister)no
Paul FlynnNewport WestLabno
Barbara FollettStevenageLabno
Michael FosterWorcesterLabno
Michael Jabez FosterHastings and RyeLabno
Mr George FoulkesCarrick, Cumnock and Doon ValleyLab (minister)no
Mrs Maria FyfeGlasgow MaryhillLabno
Mike GapesIlford SouthLabno
Bruce GeorgeWalsall SouthLabno
Neil GerrardWalthamstowLabno
Ian GibsonNorwich NorthLabno
Linda GilroyPlymouth, SuttonLabno
Dr Norman GodmanGreenock and InverclydeLabno
Roger GodsiffBirmingham, Sparkbrook and Small HeathLabno
Paul GogginsWythenshawe and Sale EastLabno
Mrs Eileen GordonRomfordLabno
Ms Jane GriffithsReading EastLabno
Nigel GriffithsEdinburgh SouthLabno
Mr Win GriffithsBridgendLabno
John GroganSelbyLab (minister)no
Peter HainNeathLab (minister)no
Mike HallWeaver ValeLab (minister)no
Patrick HallBedfordLabno
Fabian HamiltonLeeds North EastLab (minister)no
David HansonDelynLab (minister)no
Sylvia HealHalesowen and Rowley Regiswhilst Labno
John HealeyWentworthLab (minister)no
Doug HendersonNewcastle upon Tyne NorthLab (minister)no
Mr Ivan HendersonHarwichLabno
Stephen HepburnJarrowLab (minister)no
John HeppellNottingham EastLabno
Stephen HesfordWirral WestLabno
Keith HillStreathamLab (minister)tellno
Mr David HinchliffeWakefieldLabno
Kelvin HopkinsLuton NorthLabno
Kim HowellsPontypriddLab (minister)no
Lindsay HoyleChorleyLab (minister)no
Beverley HughesStretford and UrmstonLabno
Mr Kevin HughesDoncaster NorthLab (minister)no
Joan HumbleBlackpool North and FleetwoodLabno
Mr Alan HurstBraintreeLabno
John HuttonBarrow and FurnessLab (minister)no
Brian IddonBolton South EastLabno
Eric IllsleyBarnsley CentralLabno
Glenda JacksonHampstead and HighgateLab (minister)no
Mrs Helen JacksonSheffield, HillsboroughLabno
Mr David JamiesonPlymouth, DevonportLab (minister)no
Brian JenkinsTamworthLabno
Miss Melanie JohnsonWelwyn HatfieldLabno
Mr Barry JonesAlyn and DeesideLabno
Fiona JonesNewarkLabno
Helen JonesWarrington NorthLab (minister)no
Ms Jenny JonesWolverhampton South WestLabno
Mr Jon Owen JonesCardiff CentralLab (minister)no
Lynne JonesBirmingham, Selly OakLabno
Martyn JonesClwyd SouthLabno
Tessa JowellDulwich and West NorwoodLab (minister)no
Gerald KaufmanManchester, GortonLab (minister)no
Sally KeebleNorthampton NorthLabno
Alan KeenFeltham and HestonLabno
Ann KeenBrentford and IsleworthLabno
Jane KennedyLiverpool, WavertreeLab (minister)tellno
Piara S KhabraEaling, SouthallLabno
David KidneyStaffordLabno
Mr Andy KingRugby and KenilworthLabno
Ashok KumarMiddlesbrough South and East ClevelandLabno
Stephen LadymanSouth ThanetLabno
Mrs Jackie LawrencePreseli PembrokeshireLabno
Bob LaxtonDerby NorthLabno
David LepperBrighton, PavilionLabno
Chris LeslieShipleyLabno
Tom LevittHigh PeakLabno
Martin LintonBatterseaLabno
Ken LivingstoneBrent Eastwhilst Labno
Tony LloydManchester CentralLab (minister)no
Mr David LockWyre ForestLabno
Andrew LoveEdmontonLab (minister)no
Mr Calum MacDonaldNa h-Eileanan an IarLab (minister)no
Andrew MacKinlayThurrockLabno
Fiona MactaggartSloughLabno
Mrs Alice MahonHalifaxLabno
Judy MallaberAmber ValleyLabno
Gordon MarsdenBlackpool SouthLab (minister)no
Mr Paul MarsdenShrewsbury and AtchamLabno
Dr Jim MarshallLeicester SouthLabno
Thomas McAvoyGlasgow RutherglenLab (minister)no
Steve McCabeBirmingham, Hall GreenLab (minister)no
Chris McCaffertyCalder ValleyLabno
Siobhain McDonaghMitcham and MordenLabno
John Martin McDonnellHayes and HarlingtonLab (minister)no
Shona McIsaacCleethorpesLabno
Rosemary McKennaCumbernauld and KilsythLabno
Mr Kevin McNamaraKingston upon Hull NorthLabno
Tony McNultyHarrow EastLabno
Michael MeacherOldham West and RoytonLab (minister)no
Alan MealeMansfieldLab (minister)no
Gillian MerronLincolnLabno
Alun MichaelCardiff South and PenarthLab (minister)no
Mr Bill MichieSheffield, HeeleyLabno
Austin MitchellGreat GrimsbyLab (minister)no
Laura MoffattCrawleyLabno
Dr Lewis MoonieKirkcaldyLab (minister)no
Margaret MoranLuton SouthLabno
Julie MorganCardiff NorthLabno
Mr Rhodri MorganCardiff WestLabno
Elliot MorleyScunthorpeLab (minister)no
Chris MullinSunderland SouthLabno
Jim MurphyEast RenfrewshireLabno
Doug NaysmithBristol North WestLabno
Dan NorrisWansdykeLabno
Mr Bill O'BrienNormantonLabno
Edward O'HaraKnowsley SouthLabno
Bill OlnerNuneatonLabno
Sandra OsborneAyrLab (minister)no
Nick PalmerBroxtoweLabno
Mr Tom PendryStalybridge and HydeLabno
Ms Linda PerhamIlford NorthLabno
Mr Colin PickthallWest LancashireLabno
Mr Peter PikeBurnleyLabno
James PlaskittWarwick and LeamingtonLabno
Mr Kerry PollardSt AlbansLabno
Mr Chris PondGraveshamLabno
Greg PopeHyndburnLab (minister)no
Bridget PrenticeLewisham EastLabno
Gordon PrenticePendleLabno
Dawn PrimaroloBristol SouthLab (minister)no
Gwyn ProsserDoverLabno
Ken PurchaseWolverhampton North EastLabno
Mr Lawrie QuinnScarborough and WhitbyLabno
Mr Giles RadiceNorth DurhamLab (minister)no
Bill RammellHarlowLabno
Mr Syd RapsonPortsmouth NorthLabno
Nick RaynsfordGreenwich and WoolwichLab (minister)no
Andy ReedLoughboroughLabno
Mrs Barbara RocheHornsey and Wood GreenLab (minister)no
Terry RooneyBradford NorthLabno
Frank RoyMotherwell and WishawLabno
Chris RuaneVale of ClwydLab (minister)no
Joan RuddockLewisham, DeptfordLabno
Martin SalterReading WestLabno
Mr Malcolm SavidgeAberdeen NorthLabno
Mr Phil SawfordKetteringLabno
Mr Brian SedgemoreHackney South and ShoreditchLabno
Jonathan R ShawChatham and AylesfordLabno
Barry SheermanHuddersfieldLabno
Clare ShortBirmingham, LadywoodLab (minister)no
Alan SimpsonNottingham SouthLabno
Marsha SinghBradford WestLabno
Dennis SkinnerBolsoverLab (minister)no
Angela SmithBasildonLabno
Geraldine SmithMorecambe and LunesdaleLabno
Jacqui SmithRedditchLabno
John SmithVale of GlamorganLabno
Mr Llew SmithBlaenau GwentLabno
Mr Clive SoleyEaling, Acton and Shepherd's BushLab (minister)no
Helen SouthworthWarrington SouthLabno
John SpellarWarleyLab (minister)no
Rachel SquireDunfermline WestLabno
Phyllis StarkeyMilton Keynes South WestLabno
Mr Gerry SteinbergCity of DurhamLabno
Mr George StevensonStoke-on-Trent SouthLabno
Mr David StewartInverness East, Nairn and LochaberLabno
Ian StewartEcclesLabno
Mr Paul StinchcombeWellingboroughLabno
Howard StoateDartfordLabno
Mr Roger StottWiganLabno
Graham StringerManchester, BlackleyLab (minister)no
Gisela StuartBirmingham, EdgbastonLabno
Gerry SutcliffeBradford SouthLabno
Mrs Ann TaylorDewsburyLab (minister)no
Dari TaylorStockton SouthLabno
David TaylorNorth West LeicestershireLabno
Mr Gareth ThomasClwyd WestLabno
Gareth ThomasHarrow WestLab (minister)no
Stephen TimmsEast HamLab (minister)no
Paddy TippingSherwoodLab (minister)no
Mark ToddSouth DerbyshireLabno
Don TouhigIslwynLabno
Jon TrickettHemsworthLabno
Mr Dennis TurnerWolverhampton South EastLab (minister)no
Desmond TurnerBrighton, KemptownLabno
Dr George TurnerNorth West NorfolkLabno
Derek TwiggHaltonLabno
Stephen TwiggEnfield, SouthgateLab (minister)no
Keith VazLeicester EastLab (minister)no
Rudi VisFinchley and Golders GreenLabno
Joan WalleyStoke-on-Trent NorthLab (minister)no
Robert WareingLiverpool, West DerbyLabno
Dave WattsSt Helens NorthLab (minister)no
Mr Brian WhiteNorth East Milton KeynesLabno
Malcolm WicksCroydon NorthLabno
Dr Alan WilliamsCarmarthen East and DinefwrLabno
Alan WilliamsSwansea WestLabno
Betty WilliamsConwyLabno
Ms Audrey WisePrestonLabno
Mike WoodBatley and SpenLabno
Mr Tony WorthingtonClydebank and MilngavieLabno
Anthony D WrightGreat YarmouthLabno
Tony WrightCannock ChaseLabno
Mr John BurnettTorridge and West DevonLDemno
Menzies CampbellNorth East FifeLDem (front bench)no
Andrew GeorgeSt IvesLDem (front bench)no
David HeathSomerton and FromeLDem (front bench)no
Simon HughesNorth Southwark and BermondseyLDem (front bench)no
Mr David RendelNewburyLDemno
Bob RussellColchesterLDem (front bench)no
Adrian SandersTorbayLDem (front bench)no
Robert SmithWest Aberdeenshire and KincardineLDemno
Andrew StunellHazel GroveLDem (front bench)no
Dr Jenny TongeRichmond ParkLDem (front bench)no
Alasdair MorganGalloway and Upper NithsdaleSNPno

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