§ Mr. Michael Marshallasked the Secretary of State for Industry what were the financial targets set for the British Steel Corporation in terms of net assets over the last 10 years; and how well the Corporation has done in meeting those targets after interest payments, depreciation and tax have been allowed for.
§ Mr. Les HuckfieldA specific financial target was set for the British Steel Corporation only for the four-year period 1973–74—1976–77. This was an 8 per cent. average return on net assets after depreciation, but before charging longterm interest, tax and certain exceptional costs. An average of 2–45 per cent. was achieved.