HC Deb 12 March 1986 vol 93 cc925-6
5. Mr. Harris

asked the Secretary of State for Trade and Industry if he will make a further statement on the future of the Cornish tin mining industry.

Mr. Peter Morrison

We are monitoring closely the effects of recent developments on the Cornish tin industry. My Department is in touch with the mining companies in Cornwall. We will be willing to consider carefully assisting viable projects to make the mines competitive in the new market situation.

Mr. Harris

The Cornwall tin mining industry has drawn some hope from the replies given yesterday by my right hon. Friend the Prime Minister in answer to the hon. Member for Truro (Mr. Penhaligon), which were echoed by the statement that my hon. Friend has made just now. Does my hon. Friend accept that there is considerable concern about the Government's apparent line that we shall have to wait until the market stabilises before coming to any decision, because that could well mean that we would be too late?

Mr. Morrison

I accept what my hon. Friend says relating to concern about any delay. That is why my right hon. Friend the Prime Minister and I have said on several occasions that we would wish to expedite any official proposition from any of the tin mines in Cornwall. I hope that he will agree that the viability test must be properly looked into.

Mr. Skinner

Does the hon. Gentleman recall that when another precious metal was in difficulty less than a couple of years ago the Government decided to use about £100 million of taxpayers' money to bail it out? I am referring to the gold bullion dealers Johnson Matthey. Why is it that the Government, when it comes to tin miners, unlike bankers, decide that they cannot do anything at all about the problem? Why cannot they use some of the taxpayers' money, not just to bail out, but to take over those tin mines and nationalise them so that jobs can be safeguarded?

Mr. Morrison

The hon. Gentleman will appreciate that, whether nationalised or not—I would be opposed to nationalisation—the future viability of the tin mines will depend upon the cost of production and the market price at which they can sell that production.

Mr. Penhaligon

What does the Minister believe a stabilised tin maket looks like?

Mr. Morrison

Something totally different from the present position, when we do not know what the price is.