speculative dealing

A Property Speculation Tax was introduced in 1973 in an attempt to control speculative dealing in property, and in 1974 building restrictions were imposed on commercial building and the construction of larger houses.

Sir Peter Holmes, Shell's chairman who admitted that he was 'astonished' to discover that the irregularities had occurred through an associate company failing to follow strict rules against speculative dealing, said that he expected any further exposure to be limited to a £65 million charge which the company would take in its accounts for the first quarter of 1993.