§ 60. Mr. Dodds-Parker
asked the Chancellor of the Exchequer how much approximately was contributed by the steel companies being nationalised in taxation to the Treasury in 1966–67; and what provision is being made for payment to the National Steel Corporation in 1967–68.
§ Mr. MacDermot
The amount of tax contributed in 1966–67 is not yet available, but the net appropriations for tax shown in the fourteen companies' latest accounts, most of which end in September, 1966, total approximately £10 million. Provision will be made for the Corporation in 1967–68 in part for continued investment and in part for reorganisation of the financial structure of the industry; allowance was made in the Consolidated Fund White Paper 1967–68 (Cmnd. 3243) for a loan of £75 million to the National Steel Corporation but this figure was stated to be subject to a wide margin of uncertainty.