§ Mr. Stones
asked the Minister of Power (1) how much public money is invested in the privately-owned sector of the steel industry; and what amounts are invested in the various firms concerned;
(2) what percentage public investment represents in the total investment in the steel industry.56W
§ Mr. Frederick Lee
The only outstanding advance of public funds to a privately owned steel company is £50 million to Colvilles Ltd., under Section 5 of the Iron and Steel Act, 1953. Because no reliable figure is available for total investment in the steel industry, it is not possible to calculate the percentage represented by public funds.