§ 49. Sir WILFRID SUGDENasked the Prime Minister if, in view of the stagnation in the steel- and iron-rolling industry, as also in the shipbuilding trade and in respect of pig-iron production, he will consider the bearing of local rates and taxes upon such cost of production, with -a view to assisting such employers who are prepared to continue their production without profit or at the minimum profit?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Sir Burton Chadwick)I have been asked to reply. My attention has been called to the effect of local taxation on the cost of production in the iron and steel industry. With regard to assistance to this industry, I would refer my hon. Friend to the answers given by the Prime Minister to the hon. Member for Penrith on 24th February and to the hon. Member for Macclesfield on 21st December.
§ Sir W. SUGDENBearing in mind the fact that since that date the position has become rapidly worse, will the hon. Gentleman call a conference of those concerned in order to deal with the present position?
§ Sir B. CHADWICKI can only say that the Prime Minister made his statement of policy at that time. The returns since April have been improving.
§ Sir W. SUGDENIs it not a fact that, if any arrangement for a cheapening of the municipal loan could be provided by the Government, it would have the definite effect of giving employment to those who are concerned in these three hardly-pressed industries, by reason of the fact that rates would be reduced?