§ 7. Mr. Marquandasked the Chancellor of the Exchequer his estimates of the quantities of steel which will be required for the fulfilment of investment programmes in the public sector in each quarter of the year 1959.
Mr. AmoryIt is estimated that the 1959 public investment programme will require very roughly 2¼ million tons of finished steel. I regret that estimates of the amount needed in each quarter of 1959 are not available.
§ Mr. MarquandCan the right hon. Gentleman tell the House what increase that figure represents over the past year, and how much of the slack in the steel industry, now resulting in unemployment and unused capacity, he expects to take up by that increase?
Mr. AmoryI am afraid that it is very difficult to say. This is an estimate of what we believe will be about the take-up of steel in the public investment projects which will be carried out during the present year. I would say that the amount would be somewhat above last year's. The total of the programme is considerably in excess, of course, but I find it difficult to compute exactly the component of steel in the projects.
§ Mr. MarquandIs not the right hon. Gentleman badly failing in his duty to the Iron and Steel Board? How can the Iron and Steel Board plan for an increased output of steel if the right hon. Gentleman cannot be more precise than this in his estimates?
Mr. AmoryI think that when the projects are seen, the Iron and Steel Board will be in a better position than I am to compute the component of steel.