asked the Secretary of State for Trade and Industry what further action he will be taking to control steel prices.

The British Steel Corporation has made no proposal for a further increase in prices.

But, with respect, that does not answer the question. What is the right hon. Gentleman's policy going to be if monopolies take advantage of their position to raise prices? It is useless to refer this to the Monopolies Commission, because we cannot wait three years for a report. What action will he take if any monopoly raises its prices unjustifiably?

In regard to the British Steel Corporation, to which the original Question related, I exercise a careful scrutiny of all proposals that the corporation—or any other nationalised industry under my charge—makes for price increases. The answer to the question, of course, is that at the moment there is no such proposal from the British Steel Corporation, so I have no particular standing in this issue.

Can the right hon. Gentleman say whether he is now trying to keep steel prices down, as the Prime Minister said before the election, or pushing them up, as he himself indicated to the Foreign Policy Association a week ago?

I am certainly not seeking to push up steel prices.