§ 52. Mr. Palmerasked the Paymaster-General what modifications in the advance development plans of the steel industry up to 1962 have been suggested by the Iron and Steel Board because of the recession in the industry.
§ Mr. MaudlingThe Board has not suggested any significant modification of the programme. It points out in the Annual Report for 1957, however, that partly because of uncertainties about the market, and partly because of the difficulties of financing development, the start of some new projects had been delayed and others had been modified by postponing the installation of some of the equipment.
§ Mr. PalmerCan the right hon. Gentleman assure us that steel companies will not be allowed to use the present recession as an excuse for retrenching on the expansion plan?
§ Mr. MaudlingIn view of the fact that an expansion plan of £28 million for a steel plate mill was announced only in the last few days, I think that supplementary question is rather ill-timed.