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British Steel Corporation

Volume 124: debated on Tuesday 15 December 1987

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To ask the Chancellor of the Duchy of Lancaster what has been the total amount of public money spent on the British Steel Corporation from June 1979 to date.

[holding answer 14 December 1987]: The total net amount of public money provided to the British Steel Corporation since June 1979 is £5,151 million, consisting of subscriptions of capital under section 18 of the Iron and Steel Acts of 1975 and 1982, and regional development grants. No public money has been provided to the corporation since December 1985.

To ask the Chancellor of the Duchy of Lancaster (1) what measures he intends to take to prevent overseas steel and iron companies from buying shares in the proposed privatisation of the British Steel Corporation;(2) what measures he will take to prevent overseas firms and institutions from buying shares in the proposed privatisation of the British Steel Corporation.

[holding answer 14 December 1987]: We shall consider whether there is a case for restricting foreign ownership, but no decisions have yet been taken.

To ask the Chancellor of the Duchy of Lancaster what has been the cost to date of the current British Steel Corporation advertising campaign.

[holding answer 14 December 1987]: This is a matter for the board of the corporation.