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British Steel Corporation

Volume 124: debated on Friday 18 December 1987

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To ask the Chancellor of the Duchy of Lancaster if he will make it his policy to include in any legislation for the privatisation of the British Steel Corporation a provision precluding the purchase of the corporation by foreign buyers; what consideration he has given to the position of the corporation's subsidiary Universe Engineers Steels in this regard; and if he will make a statement.

We shall consider whether there is a case for restricting ownership in relation to BSC, but no decisions have yet been taken. The ownership of private sector firms in which BSC has holdings is a matter for the shareholders.