§ 38. Mr. Leadbitterasked the Secretary of State for Trade and Industry what discussions he has had with the Common Market countries on steel prices; and if he will make a statement on future pricing policy.
§ Mr. Tom BoardmanNone. Steel pricing policy is a matter for the individual producers, subject to the obligations of the European Coal and Steel Community Treaty.
§ Mr. Leadbitterasked the Secretary of State for Trade and Industry what study his Department has made of the effect of steel price increases on the economy and in particular on the costs of shipbuilding, cars, civil construction and housing; and if he will make a statement.
§ Mr. EmeryIt is estimated that an average increase in the price of steel of 1 per cent. might raise the retail price index by perhaps 0.02 per cent., the exact effect depending on the way the increase was distributed between particular products. Motor vehicles, shipbuilding, construction—other than housing—and housing costs would be expected to increase by about 0.17, 0.12, 0.8 and 0.01 per cent., respectively.