HC Deb 15 November 1948 vol 458 cc7-8
11. Mr. Erroll

asked the Minister of Supply in what way a steel company may now finance an urgent approved project for which a public issue of new capital would have been made.

Mr. G. R. Strauss

All the normal ways of raising new capital are still open to a steel company. The British Iron and Steel Corporation will be liable for all debts to banks or other creditors of those companies whose shares it will acquire, and subscribers to new issues of securities will receive compensation equal to the price of issue.

Mr. Erroll

Does the Minister think that it is very likely the public will subscribe to those new issues?