§ 33. Sir G. Nabarroasked the Secretary of State for Trade and Industry, having regard to the aggregate trading profits of the 14 major steel companies for their varying financial years, ending in the calendar year 1961, amounting to £104 million after depreciation but before interest and taxation, and prospective losses of the British Steel Corporation, 10 to 12 years later, what special further steps he now proposes to take to restore profitability to the nationalised steel industry.
§ Mr. John DaviesThe financial position of the British Steel Corporation is the subject of the Review which I announced to the House on 18th March.
§ Mr. Goldingasked the Secretary of State for Trade and Industry whether he 4W is now able to make a statement about the financial structure of the steel industry.
§ Mr. John DaviesNo. I hope to make a statement soon on my Review of the Corporation's short-term financial position, but this is not a matter of financial structure.
§ Mr. Spenceasked the Secretary of State for Trade and Industry what total tonnage of steel was produced by the British steel industry in each of the years 1939, 1949, 1959, 1969 and 1970.
§ Mr. RidleyThe figures requested are as follows:
U.K. crude steel production m. tons 1939 … … … 13.22 1949 … … … 15.55 1959 … … … 20.19 1969 … … … 26.42
§ Mr. Spenceasked the Secretary of State for Trade and Industry what productivity increase the British steel industry has achieved in the last 25 years.
§ Mr. RidleyIn the 22 years to 1970—a period for which statistics are readily available—United Kingdom steel output per man increased by 60 per cent.