§ 58. Mr. HOLTasked the Prime Minister whether any Grants or subsidies are being given to manufacturers of iron or steel in Great Britain so as to enable them to sell their products at controlled prices; and, if so, what is the scale and total amount of such Grants or subsidies?
§ The PARLIAMENTARY SECRETARY to the MINISTRY of MUNITIONS (Mr. Kellaway)As was stated by the late Financial Secretary to the Ministry on 29th May last in answer to the hon. Member for Windsor, subsidies are granted to manufacturers of iron and steel to compensate for the increased cost of production. It would be impossible within the limits of a Parliamentary answer to give the scales, but it was estimated in July last that subsidies amounting to £47,000,000 had been approved. Recent increases have had to be given owing to the further rise in the cost of coal and rates of wages.
§ Mr. HOLTAm I to understand that when any person is allowed to buy iron or steel he gets a very handsome present from the Exchequer?
§ Mr. KELLAWAYThe Government is practically the only buyer, being the purchaser of 98 per cent. of the iron and steel.
§ Colonel WEDGWOODDoes this arrangement come to an end at the conclusion of hostilities?
§ Mr. KELLAWAYA Committee is now sitting with a view to seeing how soon the arrangement can come to an end in the event of the cessation of hostilities.