§ 15. Mr. Biffenasked the Minister of Power what proposals he has received from the British Steel Corporation seeking to raise the prices of its products; and if he will make a statement.
§ Mr. FreesonNone, Sir; but the Corporation's major price review is nearing completion and my right hon. Friend expects to receive their conclusions before the end of the year.
§ Mr. BiffenWhen making those considerations, will the hon. Gentleman bear in mind that the present rate of return of the British Steel Corporation is ludicrously low if it is to finance its capital 674 investment to any degree at all out of retained profits? Would he also ensure that any price increases are so organised as not to discriminate against the substantial private sector which still operates in the British steel industry?
§ Mr. FreesonThose words are noted on the record, but I cannot anticipate the Corporation's conclusions, which will be presented to my right hon. Friend.