HC Deb 25 June 1979 vol 969 cc20-1
24. Mr. Foulkes

asked the Secretary of State for Industry when he expects next to meet the chairman of the British Steel Corporation.

Mr. Butler

My right hon. Friend has frequent contact with the chairman on a wide range of matters affecting the corporation.

Mr. Foulkes

In view of the Secretary of State's concern to reduce public expenditure, will he when he next meets the chairman ask for an explanation of the disgracefully profligate expenditure undertaken by the corporation at the official opening ceremony of the Hunters-ton complex, which has no productive value at present?

Mr. Butler

When my right hon. Friend next meets the chairman, he will hope to hear that this fine new terminal is in operation and that the disputes that are preventing its operation have come to an end.

26. Mr. Hooley

asked the Secretary of State for Industry what will be the capital expenditure of the British Steel Corporation in 1979 –80 and 1980 –81.

Mr. Michael Marshall

The latest estimate for 1979 –80 is £325 million. Expenditure for 1980 –81 is currently under consideration.

Mr. Hooley

Has the Minister noted the outstanding success of the Shepcote Lane stainless steel complex, which is now regaining markets which were badly neglected under private ownership? Does he realise that the future success of the BSC depends on a high and sustained level of capital investment? Will he take this into account when he works out the figures for 1980–81?

Mr. Marshall

I recognise that there is something in what the hon. Member says about stainless steel, which the House will welcome, but I do not think that he can expect to hear any detailed figures today. We are very concerned to ensure that the successful parts of the corporation continue to thrive—for example, in Sheffield—and we shall continue to bear this in mind.