§ Mr. Geoffrey Lloyd
asked the Minister of Power if he will state the amount of money loaned by the Government to privately-owned companies in the steel industry since denationalisation; and when it is due to be repaid.
§ Mr. Frederick Lee
Apart from some £150 million invested in connection with denationalisation loans from public funds to privately-owned steel companies since their respective dates of denationalisation comprise a loan of £50 million to Colvilles Ltd. under Section 5 of the Iron and Steel Act, 1953, together with £5 million postponed interest and a loan of £27 million to the Steel Company of Wales, under Section 20(1)(a) of that Act, arranged before the Company was denationalised. The final date for repayment of the Colvilles loan is 1978; the final payment of the loan to the Steel Company of Wales was made in 1963.