Political Commentary

The Tory Revival-1

By DAVID WATT

In the past few months its last pretensions to virtue have disappeared, its defects have reigned supreme, and it has come to seem, to many of its inmates, to the press and, I suspect, to the public, almost .intolerably irrelevant. This final collapse is partly due to innate weakness. Neither of the main parties cut out enough dead wood before the 1959 election—with the result that a large number of Members who were worm- eaten even then are now visibly disintegrating on the bough. But events themselves have com- pleted the process. The arrival of a new adminis-

tration has introduced the frustrations of a long mark-time. If Sir Alec had had a large legisla- tive programme of his own, some sense , of purpose might have been introduced to the pro- ceedings. But he has contented himself with 'clearing the decks,' as he picturesquely puts it, and, furthermore, he has done it with the help of a lot of his predecessor's less inspiring cabin boys. Messrs. Brooke, Errol, Boyd-Carpenter, Deedes and Dilhorne, for instance, are no doubt worthy characters, but a body in which they are allowed, for old times' sake, to set even a frac- tion of the tone is not likely to be humming with creative activity. Equally, the Labour Party has at least half a dozen stupefying front-bench speakers who are nominally in charge of Shadow departments, but whom everyone knows will be honourably attached to a heavy weight or two and dropped overboard when the ship comes into harbour.

Moitly, of course, the fault has been the approach of the election. Except when a political opponent has just outwitted them, politicians do not normally admit to much sympathy with the man-in-the-street who professes boredom of party politics. But in the last six weeks I have scarcely been able to find an MP who does not say that he is heartily sick of the childish way the game has been played at Westminster of late. The fact is that literally nothing, from invalid carriages to Scottish irrigation, has been discussed for months without someone trying to make a party point. Let a Conservative Member launch some mild criticism of an Opposition policy; he will immediately be howled down with bogus points of order from the Labour benches. Let Mr. Wil- son introduce the slightest touch of asperity into a question to the Prime Minister, and fifteen elegantly clad drones from the Government back benches will leap into the air with their stings unsheated ready to defend, their queen.

A frank look at this rather depressing scene is an essential preliminary to seeing in its proper perspective the most striking feature on the politi- cal horizon—the much-heralded revival in the morale of the Tory Party. Three months ago Tory members with majorities of 6,000 or 7,000 could be seen huddled tremulously over the news tapes scanning borough council results, or lunch- ing rather too casually with influential gentlemen in the City with jobs in their gift. Agents were talking about 'holding back the flood' and strong men at the Central Office, when asked about dear Sir Alec, were beginning to wear that intense- loyalty-tinged-with-a-little-sadness look that bodes the subject no good. Now the top brass is talk-

COMPANY MEETING THE Twenty-seventh Annual General Meeting of Butlin's Limited was held on July 16 at Winchester House, Old Broad Street, London, E.C.2. Mr. W. E. Butlin, M.B.E. (Chairman and Managing Director) presiding.

The Chairman said ;—

Once again and for the tenth year in succession I am pleased to say that the results for the year ended 31st December 1963 constitute a new record. The gross revenue of £15,541,254 shows an increase 61 £2,387,871. The operating costs of £10,637,605 were £1,542,319 more than in the previous year. The gross. trading profit was £4,903,649 compared with £4,058,097, in 1962, and the net profit before taxation amounted to £3,748,789—an increase of £619,973. This is after paying £234.423 interest on the new Debenture Stock—an increase in interest charge over 1962 of £204,100.

After providing £1,897,417 for taxation the balance of profits for the year amounted to £1,851,372. Out of this amount there have been Paid Preference dividends of £38,240 and the interim Ordinary dividend of £500,519 being 30% less In- come Tax, on the Ordinary capital before the one for one rights issue last October. It is proposed to Pay a final dividend of 35%, less Income Tax, on the Ordinary capital as increased by the rights issue. This will amount to £1,167,876 leaving £144,737 to carry forward, making a total of £2,463,426 carried forward. The total of the Ordinary dividends being paid for the year is equivalent to 100% on the Ordinary capital as it existed before the last rights issue.

When we made the rights issue last October I stated that the proceeds were to be used to erect additional main buildings, to increase the enter- tainment and general amenities on our existing Camps, and to increase the accommodation to enable us to cater for more guests. During last winter we Proceeded With this programme, and we have built Chalets to accommodate about 7,000 additional campers per week. We can now sleep, entertain and feed over 70,000 guests at any one time, which is rather a coincidence as we have just over 70,000 Ordinary Shareholders.

WINTER ACTIVITIES

I referred last year to the development of our Hinter business. Three Camps—Bognor Regis, Clac- ton and Minehead—are open for the accommoda- tion of weekend visitors during what we call the off-season, that is October through to May, and ant pleased to say that the revenue obtained from this source was about double that of the previous winter. This shows how increasingly popular these Weekend holidays are becoming. Our customers can now enjoy themselves in a Butlin Camp atmosphere

BUTLIN'S LIMITED

RESULTS- CONSTITUTE A NEW RECORD

EXPANSION PLANS