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Steel Industry

Volume 889: debated on Wednesday 26 March 1975

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asked the Secretary of State for Energy if Great Britain is permitted under the rules of the European Coal and Steel Community to approve new investment and expansion plans by the British Steel Corporation without seeking the prior agreement of the ECSC.

I have been asked to reply.Yes, However, under Article 54 of the Treaty of Paris the corporation, like any other steel undertaking in the ECSC, has to inform the European Commisssion of its investment plans. The Commission may then deliver an opinion on the proposals which, if adverse on the specific grounds that the particular investment would involve aids, subsidies, protection or discrimination contrary to the treaty, would prohibit the corporation from drawing on resources other than its own funds to finance the investment.