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British Steel Corporation

Volume 961: debated on Wednesday 24 January 1979

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asked the Secretary of State for Industry what was the total amount in grants subsidies and loans to the British Steel corporation in each year since 1970.

The annual reports and accounts for the Corporation, which are in the Library, give for each financial year the total amounts of advances under section 18 of the Iron and Steel Act 1975 and of National Loans Fund moneys, details of regional development and other grants, and net changes in the Corporation's other borrowings. BSC does not receive any subsidies.

asked the Secretary of State for Industry what information he has received from the British Steel Corporation in respect of break-even trading estimates.

The Corporation is working to its objective of operating on a break-even basis by the end of the financial year 1979–80 as stated by Sir Charles Villiers on 30 November.