§ 13. Mr. Palmerasked the Paymaster-General what modification has been made by the Iron and Steel Board in the planned output of 29 million tons of iron and steel by 1962.
§ Mr. MaudlingThe output of iron and steel must depend on the demand. The Iron and Steel Board has informed my noble Friend that the present prospect is that the production capacity far crude steel will approach 28 million ingot tons in 1962 and that, if there is sufficient demand, production of a further million tons or thereabouts should be attainable in that year.
§ Mr. PalmerHave the private steel firms made any representations about the scaling down of the target figure?
§ Mr. MaudlingCertainly not. The industry's expenditure on modernisation and development in 1958 was at the highest level ever.