§ 8. Sir Waldron Smithersasked the Minister of Supply what were the facts which formed the basis that home consumption of steel will be 13,000,000 tons and exports 3,000,000 tons in 1955, considering that the mean curve from 1910 to 1945 included two wars, during which steel production was abnormally high.
§ Mr. WilmotI assume that the hon. Member is referring to the estimate made by the British Iron and Steel Federation in their recent report which was published as a White Paper The estimate of home consumption at 13 million ingot tons a year assumes full employment, and has regard to the long-term upward trend of steel consumption in all industrial countries. The estimated export of 3 million ingot tons is based on the potential world demand and the changes in the supply position since the inter-war years.
§ Sir W. SmithersHow dare the Government take a gamble on such slender evidence?
§ Mr. WilmotThe estimate has been made by some of those most informed in the steel industry. The Government have no reason to differ from it on examination
§ Sir W. SmithersIt has been accepted.